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Commercial Finance Introducer
Seeing the
old year
After the restrictions faced by the market in 2009, are
things going to get any easier in 2010? Adam Tyler,
chief executive of the NACFB looks to the next twelve
he last twelve months have been probably over and the economy was (slowly) incidentally; this was global recession after all
difficult for commercial finance on the road to recovery. Brokers who have and there was probably only a limited amount
brokers. Although I believe that, survived the downturn so far prove the sector’s the FSA could have done to prevent it), the
in the face of such a barrage of resilience but to survive has meant some tough regulator has decided to ensure that ‘it won’t
negativity, staying positive is decisions. happen again’.
extremely important, I must Despite my promise at the beginning of this
confess that there have been Challenges piece that I would be optimistic, I have to
times when ‘good news’ stories have been, at But economic conditions aside, there are other admit that there are a number of areas that
best, either extremely thin on the ground or the challenges facing commercial finance brokers. need to be addressed throughout 2010 and
products of so much spin. So I face the New Interestingly Dr. Richard Roberts suggested these will be difficulties particularly as we will
Year with a degree of trepidation – but still that one of the biggest challenges to the market be an election year.
some optimism – as my hopes are that things is one of increased regulation.
will gradually start to improve next year. The FSA has for some time now suggested Prevention
But, first of all, what are the challenges facing that buy-to-let will come under their remit to I do appreciate that recession prevention is
brokers as we look towards a New Year? At our protect the unwary consumer (although it does probably more of an art than a science, but I
recent conference, held on the second day of seem to be assuming this particular mantle would like to point out that one key thing
the Mortgage Business expo we welcomed Dr. with a degree of reluctance), and my thoughts about recessions is, that although everyone
Richard Roberts, chief economist at Barclays on that particular piece of regulation are well knows there’s be one along in a minute,
Bank, who offered his thoughts as to how the documented, and I don’t intend to repeat them nobody really knows where it will be coming
market would fare in the next year. Despite here. But following one of the biggest financial from. So the Treasury pushing through
rumours of a ‘double dip’ (which certainly market downturns in recent history, the legislation ostensibly on the grounds of
seemed to be the favoured outcome of other decision has been taken to look into the causes preventing the last one won’t really help. It’s a
economists I have heard present recently) Dr. of the recent problems and, perhaps stung by bit like revising for an exam by learning last
Roberts seemed to think that the worst was criticisms (not all of which was entirely fair, year’s questions and answers off by heart; it
January 2010 Mortgage Introducer
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