REG - Mortgage Adv. Bureau - Trading Update

Mortgage Advice Bureau (Holdings)Announcement

24/07/2025 07:00

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RNS Number : 2975S  Mortgage Advice Bureau (Hldgs) PLC  24 July 2025

24 July 2025

Mortgage Advice Bureau (Holdings) plc

("MAB" or the "Group")

 

Trading Update

 

Mortgage Advice Bureau (Holdings) plc (AIM: MAB1.L), a leading
technology-driven UK mortgage network and broker, today issues a trading
update for the six months ended 30 June 2025, ahead of publishing its interim
results on 23 September 2025.

 

Group revenue for the six months ended 30 June 2025 increased by 19% to
c.£147m (H1 2024: £123.9m) and the Board expects to report Adjusted PBT of
c.£14m, representing 14% growth on the equivalent period last year
(2024: £12.3m).

 

MAB delivered a solid performance in H1 2025, with gross mortgage
completions(1) increasing by 14% to c.£13.8bn (H1 2024: £12.1bn), supported
in part by the timing effect of property transactions brought forward ahead of
the 31 March 2025 changes to Stamp Duty Land Tax (SDLT) relief. We are pleased
that MAB's market share of new mortgage lending(1) increased to 8.3% for the
five months to May 31 2025 (2024: 8.1%).

 

The number of mainstream advisers(2) at 30 June 2025 was up 5% on the prior
year end to 2,041 (31 December: 1,941). Average revenue per mainstream adviser
for the first half increased by 14% to £74k (H1 2024: £65k).

 

Current trading and Outlook

The Group continues to trade in line with the Board's expectations.

 

We see continued indications of a gradual recovery in underlying purchase
activity, supported by buyer affordability and an increase in supply of new
properties coming on market. Looking ahead, refinancing is expected to
accelerate in the second half of 2025 and into 2026, as a substantial volume
of 5-year fixed mortgages from the post-pandemic boom and 2-year fixed deals
taken out following the 2022 mini budget approach maturity.

 

We welcome the Financial Conduct Authority's (FCA's) initiatives to promote
responsible lending (most notably through fairer affordability testing and
lower deposit requirements) and to simplify a number of existing mortgage
rules. These initiatives, including the 'Policy Statement on Mortgage Rule
Review', should enable more renters to become first-time buyers and make
refinancing more accessible and straightforward.

 

 

Peter Brodnicki, Founder and CEO of MAB, commented:

"I am pleased to report a strong performance in the first half of 2025 with
the mortgage market showing signs of a sustainable recovery. Adviser
productivity is continuing to increase, and strong momentum is building in
adviser growth.

 

It is encouraging to see the Government so focused on housebuilding and home
ownership initiatives, and we are already seeing an immediate and positive
response from the financial regulators, providing a supportive backdrop for
the housing and mortgage market."

 

 1  Based on first charge mortgage completions, secured personal loans
(second charge mortgages), later life lending mortgages and bridging finance.
Gross mortgage lending includes Product Transfers. New mortgage lending
excludes Product Transfers.

 

2 Excludes directly authorised advisers, later life advisers without a
mortgage and protection license, and advisers in the process of being
onboarded who are not yet able to trade.  Also includes 23 advisers from our
investment in Mortgage Mum, who are currently being onboarded under MAB's AR
arrangements.

 

 

Enquiries:

 Mortgage Advice Bureau (Holdings) plc             Via Camarco

 Peter Brodnicki, Chief Executive Officer

 Ben Thompson, Deputy Chief Executive Officer

 Emilie McCarthy, Chief Financial Officer

 Nominated Adviser and Joint Broker

 Keefe, Bruyette & Woods, a Stifel Company           +44 (0) 20 7710 7600

 Erik Anderson / Nick Harland / Francis North

 Joint Broker

 Berenberg                                         +44 (0) 20 3207 7800

 James Felix / Michael Burke / Dan Gee-Summons

 Joint Broker

 Peel Hunt LLP                                     +44 (0) 20 7418 8900

 Andrew Buchanan / Oliver Jackson / Rob Parker

 Media Enquiries

 Camarco                                           mab@camarco.co.uk

 Tom Huddart / Letaba Rimell

 Investor Relations                                Investor.relations@mab.org.uk

About MAB:

MAB is one of the UK's leading consumer intermediary brands and specialist
networks for mortgage advisers.

Through its partner firms known as Appointed Representatives (ARs), MAB has
approximately 2,000 advisers providing expert advice to customers on a range
of mortgage, specialist lending, protection, and general insurance products.
MAB supports its AR firms with proprietary technology and services, including
adviser recruitment and lead generation, learning and development, compliance
auditing and supervision, and digital marketing and website solutions.

For more information, visit www.mortgageadvicebureau.com
(https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttp-3A__www.mortgageadvicebureau.com_%26d%3DDwMF-g%26c%3DeuGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM%26r%3DNj006SAhpfJGzqX7TkdnFCOXt8K8HLR6t-m0tfk0sKk%26m%3DgFRfhF8o351YluA18Bjv7ycyKw7h2VVplazDY2IEW0sQ8C0AaYe1Qup_V9gmZQNd%26s%3DKfp85WcIcWHD48Cv6_MtN85WTzPhbcPhgoql1Us5h60%26e%3D&data=05%7C02%7CLetaba.Rimell%40camarco.co.uk%7C49fa9aa74f034fc9a49108dcfff2bf39%7C77a5f6209d7747dba0cd64c70948d532%7C1%7C0%7C638666665356187099%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=OvOcJHyFYzHfR6M9dFsyhwxgXQbIjrac6cGpXoERDmo%3D&reserved=0)

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