MEDIA CENTRE
Media Centre
Press Releases
22-07-2009
AFB launches largest ever survey of secured loan brokers
The Association of Finance Brokers (AFB) has launched the largest ever survey of the secured loan broking community. The aim of the survey is to create a clear picture of the state of the broker market in response to a contraction in the secured loan market of around 80% over the last year.
Robert Sinclair, Director of the AFB, said:
“It is undeniable that the secured loan industry has faced extremely difficult circumstances in the last 12 months. The major constriction in lending has forced a great many brokers out of the market. This is bad news for businesses. It is also a problem for consumers who are now unable to find credit, many of whom will be in urgent need of refinancing to sort out temporary cash flow problems.
“Through this survey we want to establish the size of the remaining broking market, the products that formed the majority of their business 18 months ago and the focus of their business now. This will help focus our activity on the areas that most concern our members.
“The demise of the Finance Industry Standards Association was a reflection of how badly the economic downturn has impacted on our sector. However, brokers have been reassured that AFB remains in place to protect their interests. We will continue to lobby for a better, more respected and recognised industry.”
Members can access the survey via the homepage of the AFB website:
http://www.theafb.net/
ENDS
For further information please contact:
Robert Sinclair, Director, AFB - 020 7628 1287
Tony Cox/Simon Maule, Linstock Communications – 020 7089 2080
Notes to Editors
AFB
1. AFB exists to support the professional secured loan broker. To do this they effectively lobby the Treasury, FSA, OFT, government, EU policymakers and other opinion formers to ensure the regulatory and business environment is positive towards the broker.
2. It is AFB’s objective to play a critical but constructive role within the secured loan regulation process – offering insights from the “front line” of the secured loan market.
3. AFB is a non-commercial, not-for-profit trade body. It exists solely to bring about a better business environment for our members so they can continue to serve their clients.
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