Mortgage Advice Bureau has posted a robust trading update for the first half of 2025, underpinned by rising revenues, adviser growth and a modest increase in market share.
The AIM-listed firm said group revenue rose 19% year-on-year to approximately £147m for the six months to 30 June 2025, while adjusted profit before tax increased by 14% to around £14m.
The Derby-based group attributed part of the uplift to the advance timing of property transactions ahead of the changes to Stamp Duty Land Tax relief which came into force on 31 March. Gross mortgage completions rose 14% to around £13.8bn, up from £12.1bn in the same period last year.
Founder and chief executive Peter Brodnicki (pictured) described the results as evidence of “a strong performance” and pointed to signs of “a sustainable recovery” in the mortgage market. He added: “Adviser productivity is continuing to increase, and strong momentum is building in adviser growth.”
MARKET SHARE
MAB’s market share of new mortgage lending rose to 8.3% for the five months to the end of May, compared with 8.1% in the same period last year. The average revenue per mainstream adviser was £74,000 in H1, an increase of 14% on the previous year’s £65,000.
The number of mainstream advisers stood at 2,041 as of 30 June 2025, a 5% rise from the 1,941 recorded at the end of December. That figure includes 23 advisers from MAB’s investment in Mortgage Mum, who are currently being onboarded under its appointed representative arrangements.
The group said trading remains in line with the board’s expectations. It noted positive signs in underlying purchase activity, supported by improving affordability and a greater supply of new homes reaching the market.
Refinancing volumes are also expected to climb through the remainder of 2025 and into next year, as a wave of five-year fixed-rate deals taken out during the post-pandemic period, along with shorter-term products from the 2022 mini-budget era, reach maturity.
WELCOME CHANGE
MAB also welcomed the recent interventions by the Financial Conduct Authority to improve access to home ownership. These include revisions to affordability testing and deposit rules as well as a simplification of existing mortgage regulation under the newly published Policy Statement on Mortgage Rule Review.
Commenting on the broader regulatory environment, Brodnicki said: “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.”
The company is due to publish its full interim results on 23 September 2025.
