Sunday, September 19, 2021

Revenues up at Mortgage Advice Bureau

Half year revenues are up at Derby-based Mortgage Advice Bureau, after being hit by the pandemic last year.

In a trading update for the six months ended 30 June 2021, the business reported revenue of £91m – a 43% increase on H1 2020 (£63m), which was “heavily affected by the Covid-19 pandemic,” and a 49% increase compared to H1 2019.

At 30 June 2021, total Adviser numbers had grown to 1,694, an increase of 114.

Peter Brodnicki, Chief Executive Officer, said: “Despite the UK lockdown and restrictions for much of H1, activity levels have remained strong and continue to do so, as have the underlying fundamentals driving sustained consumer demand for housing and mortgages.

“With restrictions starting to slowly lift from mid-April, we have now completed most of the recruitment discussions that were put on hold and therefore expect to see a significant increase in mainstream Adviser numbers in H2 and moving into 2022, including the additional mainstream Advisers required to service the new lead sources MAB continues to secure.

“I am confident the recent developments in lead generation and continued enhancements to our technology platform put MAB in an ever-stronger position to accelerate its pace of growth.”

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