UK brokers are split on whether they will have placed more asset finance business this year than last.

Research from funder United Trust Bank (UTB) found 50% of brokers expect to have placed more business in 2012 than they did last year while 31% anticipate business levels to be the same.

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The remaining 29% expect overall business to be quieter this year than in 2011.

The research, the second release based on a survey of UK brokers by UTB, also showed 56% of brokers placed up to a £1m in asset finance lending in 2011, with 34% placing between £1m and £5m and just under 10% doing business in excess of £5m.

Asked to look ahead to 2013, the majority, 63%, of brokers expect asset finance business to increase while 28% expect business to remain the same.

Despite this confidence only 44% of brokers felt "optimistic" in their business outlook while 56% where either "comfortable" or "unsure".

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Martin Nixon, head of Asset Finance at UTB, said: "It’s encouraging to hear that half of brokers are expecting to have written more business this year than last year and even more are predicting an increase in 2013 as well."

Nixon added the research reflected his experience at UTB as the bank has seen an increase in business proposals from brokers and business volumes continue to grow throughout the year.

grant.collinson@vrlfinancialnews.com