MAB announces 46% increase in turnover

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The Mortgage Advice Bureau (MAB) reported a 46% increase in revenue, bringing its total figure to £ 92.4million.

Statutory profit before tax increased from £ 6.1million to £ 10.8million, while adjusted profit before tax increased from £ 7.9million to £ 11.6million, year-on-year.

The results show that advisers made gross mortgage completions of £ 11bn in the first half of 2021, up from £ 7.5bn in 2020.

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In the first half of 2021, new mortgages stood at £ 9.6bn, up from £ 6.4bn the previous year, and product transfers increased from £ 1.1bn to 1.4 billion pounds sterling.

In addition, the number of mortgage professionals registered with MAB has grown to approximately 1,800.

He also announced the purchase of 49% of the shares of new construction broker Evolve FS.

Peter Brodnicki, Managing Director of Mortgage Advice Bureau, said: “Our mortgage completions increased 48% in a favorable market fueled by strong customer demand as well as the stamp duty holiday.

“Our strategic progress has been excellent over the period, especially with regard to our lead generation initiatives.

“Despite government restrictions and the nationwide lockdown that lasted much of the first half of the year, housing market activity was fueled by strong consumer demand after the housing market reopened last year as well. as the stamp duty holiday.

“The increase in moving activity has been particularly pronounced, largely due to changing lifestyles and working styles.

“The stamp duty holiday deadline of June 30, 2021 in England, Wales and Northern Ireland generated record levels of completion activity in June 2021.”


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