Mortgage Advice Bureau said total mortgage completions lifted 17% to £14.2bn in the first six months of the year from 12 months ago, adding it expects business “to continue building” in the second half of the year.
The broker network added that within this, new lending lifted 23% to £11.1bn, in a trading statement for the first half of the year to the end of June.
Purchase loans jumped 35% to £7.7bn in the period, remortgages rose 3% to £3.4bn, while product transfers slipped 1% to £3.1bn.
The business generates cash from three core areas — procuration fees, protection and general insurance commission, and client fees.
Procuration fees lifted 23% to £60m in the period, protection and general insurance commission was up 14.4% to £55.8m, while client fees rose 24.3% to £29.8m.
Overall, revenue lifted 19.6% to £148.2m, with other income contributing £2.6m, up 9.2%.
Its mainstream advisers rose 5.2% to 2,041, while sales per adviser lifted 14.2% to £74,600.
During the period, the network, led by founder and chief executive Peter Brodnicki (pictured), made several broker acquisitions and disposals.
First Mortgage Direct bought a further 12% of M & R FM for £1.2m, bringing its total stake to 49%, in April.
The network acquired a further 25.5% interest in Heron Financial, bringing its total stake to 74.5% of the firm’s share capital, in March.
It also purchased 49% of The Mortgage Mum for £0.5m in June, which could rise to 51% stake, subject to a put and a call option over the next five to 10 years.
Overall, the network turned in a pre-tax profit which jumped 54.8% to £9.6m in the period, benefiting from £1.2m of lower acquisition-related costs.
“These projects largely consolidated existing projects into majority stakes,” said MAB deputy chief executive Ben Thompson.
Responses to the Financial Conduct Authority’s mortgage rule review closed last Friday, which promise to bring sweeping changes to the home loans market and the role of brokers.
Thompson said he was pleased to see relaxed guidance regulators made earlier this year on loan-to-income rules and affordability.
He added that the FCA had “asked the right questions” on easing later life lending and allowing rental payments to count towards mortgage applications.
Thompson said he did not see proposals on raising home loan ‘advice triggers’ as something that would affect the business in the “near to medium term, adding that new lending would provide “plenty of opportunities”.
The network was bullish on current trading.
It said: “MAB delivered a strong performance in the first half of 2025, with momentum continuing beyond the period end.
“Mortgage applications in July and August increased by 17% year-over-year, and refinancing volumes are expected to continue building through the second half of 2025 and into 2026.”
The business reiterated its intention, made in February, that it intends to move from the London Aim market to the FTSE 250 index in 2026.
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by finopulse.
Publisher: Source link
