AGM Statement

RNS Number : 6501Z

Mortgage Advice Bureau(Holdings)PLC

25 May 2021

 

25 May 2021

Mortgage Advice Bureau (Holdings) plc

AGM Statement

Mortgage Advice Bureau (Holdings) plc ("MAB"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative ("AR") networks, will hold its Annual General Meeting at 2pm today during which the Non-Executive Chair, Katherine Innes Ker, will make the following statement:

"Adviser numbers have continued to grow since our final results statement on 23 March 2021 and had risen to 1,668¹ advisers by 21 May 2021, an increase of 6% year to date.  Our new AR and adviser pipeline has been continuing to build and is at an all-time high. Those discussions that were on hold during lockdown have now resumed and we expect them to conclude quickly.

"MAB's mortgage completions for Q1 2021 were £5.3bn, representing an increase of 26% on Q1 2020.  We are pleased with this strong performance and the increase in both written and banked adviser productivity.

"Activity levels in the housing market have continued to be high throughout April and May.  In addition, the underlying fundamentals driving consumer demand for housing purchase remain unchanged.  

"Rapid progress continues to be made in terms of securing new lead sources and the development of our lead management platform.

"We had a strong start to the year in the first quarter, with considerably improved year on year profitability. This positive momentum has continued into the second quarter and trading continues to be strong. Current trading is in line with the Board's expectations."

¹ Includes 42 Advisers of a firm previously authorised under an Appointed Representative agreement with MAB until 7 December 2020. MAB continues to provide services to this firm, now directly authorised by the FCA.

Enquiries:

Mortgage Advice Bureau (Holdings) plc  [phone]

Peter Brodnicki, Chief Executive Officer Ben Thompson, Deputy Chief Executive Officer Lucy Tilley, Chief Financial Officer Nominated Adviser and Broker:

Numis Securities Limited    Tel:  [phone] Stephen Westgate / Hugo Rubinstein / Laura White (Corporate Finance)

Media Enquiries:  [e-mail]

 

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