The majority – 67 per cent – of commercial brokers are confident about the UK lending environment in 2021, Shawbrook’s newest broker barometer says.

The survey of over 100 commercial brokers also describes just under half, or 44 per cent, of respondents being confident in the UK economy during this year.

In terms of their businesses, 60 per cent of brokers feel confident about growth while 33 per cent have already seen an increase of 20 per cent or more transaction volumes when compared to January 2020.

The effects of Covid-19 are not expected to disappear soon, however. When asked what the three biggest challenges in 2021 are likely to be in 2021, 74 per cent listed lending restrictions in their list, 66 per cent valuation issues, and 47 per cent Covid restrictions.

And when asked what the three biggest challenges for potential borrowers may be, 52 per cent of the commercial brokers asked replied with valuation issues, 46 per cent with personal financial issues, and 43 per cent listed a slow market bounce back.

Commercial brokers are also largely prepared for Brexit – 81 per cent say they’re ready and just 1 per cent say they aren’t. However, a not insignificant 18 per cent reply that they are still “not sure” if they are suitably prepared.

Shawbrook Bank sales director of property finance Emma Cox says: “The optimism amongst brokers, even in the face of enduring uncertainty whilst we continue to navigate the Covid-19 situation, is great to see.

“The growth in business volumes when compared to the beginning of last year imply a robust recovery, which is likely to be fuelling the positive outlook for the year ahead.”