Some 75% of specialist finance intermediaries expect business sales to increase in the next 12 months, according to research by Masthaven.
The study by the specialist bank found that only 2.5% of intermediaries expected to see sales decline.
The biggest growth challenges were expected to be lending criteria (35%), regulation (27%) and lack of innovation (18%).
Matt Andrews, managing director of mortgages at Masthaven (pictured above), said: “Despite ongoing Brexit negotiations and another quarter of slowing house prices, it is positive to know that intermediaries are confident for a successful 2019 with a large proportion expecting sales to increase.
“This year is set to be another bumper one for the industry – we are already seeing restrictive credit scores and prescriptive lending criteria being reconsidered.
“However, there is always room for improvement.
“We must continue to create [innovative] products, develop frictionless services and streamline the borrowing process so that despite the unknown uncertainties that lie ahead, specialist finance will continue to become the new normal.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
N26 introduces MoneyBeam to UK users
N26 has introduced MoneyBeam to its UK users which will enable them to instantly send money to other users of the mobile bank...
NatWest names new CEO for Mettle
NatWest has named Marieke Flament (pictured above) as the CEO of its SME digital banking subsidiary Mettle...
CYBG to rebrand as Virgin Money and launch a new business current account
CYBG has revealed that it will rebrand to Virgin Money over the next two years with new Virgin Money-branded products...
New bank Chetwood Financial reveals long-term ambitions
Chetwood Financial is aiming to use technology to offer better deals to customers, having secured a banking licence late last year...
The opportunity for accountants to help businesses
In light of bank and building society branch closures, a new report published by Oxford Economics in partnership with Funding Circle has revealed that in the UK — despite the vast economic output generated by SMEs — small business lending accounts for only 2% of banks’ balance sheets...
Paragon Bank’s structured lending team passes £100m milestone
Paragon Bank’s structured lending team has passed its £100m milestone 18 months after launching...
Hanley Economic expands intermediary support team
Hanley Economic Building Society has appointed Kate McKeon (pictured above) as an intermediary sales assistant...
Gatehouse Bank names new direct adviser
Gatehouse Bank has appointed Robert Siddall (pictured above) as a direct adviser...
British Business Bank increases facility with Simply to £180m
Non-bank lender Simply has received a third facility of £60m from the British Business Bank under the latter’s ENABLE funding programme...
OakNorth provides facility for cloud platform provider acquisition
OakNorth has provided a loan to managed service and cloud platform provider Oncore IT for the acquisition of Fuse Technologies...
Monzo to launch first USA accounts this summer
Monzo has announced it will be launching its first accounts in the USA this summer...