Commenting on the survey, Keith Aldridge, Managing Director of Amicus, said:
“The fact that 73% of respondents were critical of the speed of service from client’s solicitors shows that there is still much to be done by Amicus and other ASTL members to improve the education of many solicitors who remain ignorant of the often demanding time lines that are needed to ensure all stakeholders play their part in getting a case completed.
"The survey confirmed that longer periods than six months are now the norm, with 12 months being the most popular and nine months replacing six months as the second most preferred period. Only 1% of respondents were regularly seeking loan terms of 18 months or more.
"Since last year’s survey Amicus has become a regulated lender so it is interesting to know that 42% of brokers in the survey did not believe that dealing with a regulated lender in an unregulated sector was important. I expect this percentage to reduce in the years ahead as the FCA extends its influence."
