Post referendum outcome comment

RNS Number : 3727C

Mortgage Advice Bureau(Holdings)PLC

27 June 2016

 

27 June 2016

Mortgage Advice Bureau (Holdings) plc

Post referendum outcome comment

Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, makes the following commentary post the outcome of the referendum held on 23 June 2016 and noting the drop in its share price since.

It is still very early days following the outcome of last week's referendum, however MAB has already received an unprecedented number of remortgaging enquiries from customers on its website.  MAB expects the reduction in house purchase transactions that was experienced ahead of the referendum to continue until the effects of the outcome on the wider UK economy become clearer.  In the meantime, MAB's Advisers will continue to maximise the opportunities arising from their mortgage and protection leads.

There has been much press commentary regarding the potential outcome of the referendum on the London property market.   Following completion of the sale of MAB's 49% stake in Capital Private Finance Limited expected in early H2 2016, MAB's exposure to the London market will reduce to c.6%. 

MAB will publish its pre-close trading update on Thursday 28^th July 2016.

Enquiries:

Mortgage Advice Bureau (Holdings) plc                            [phone]

Peter Brodnicki, Chief Executive Officer

David Preece, Chief Operating Officer

Lucy Tilley, Finance Director

Zeus Capital                                                                                  [phone] Martin Green Nicholas How Pippa Underwood Canaccord Genuity                                                                    [phone] Roger Lambert Kit Stephenson Richard Andrews Media Enquiries:  [e-mail]

 

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