The brokerage’s chair, Mike Jones, said the increased mortgage activity seen in the last half of 2024 had continued into 2025 and completions were “particularly strong” in Q1, boosted by transactions ahead of the changes to stamp duty.
He added: “Purchase activity remains stronger year-on-year, underpinned by improving buyer affordability and an increased supply of new properties coming onto the market. If mortgage rates remain stable or decline further, we expect purchase activity in 2025 to continue to outperform 2024.
“Refinancing is expected to accelerate in the second half of 2025 and into 2026, as a significant number of five-year fixed mortgages from the post-pandemic boom, and two-year fixed deals taken out following the 2022 mini Budget reach maturity.”
A rise in adviser numbers
MAB’s Jones said the number of mainstream advisers at the firm had increased by 3% since 31 December to 2,003 as of 16 May.
He said: “With the housing and mortgage markets showing signs of a sustainable recovery, we are seeing increased confidence among appointed representatives (ARs), with more advisers joining and momentum in new AR firm recruitment.”
Jones said the firm also welcomed the government’s growth agenda, including plans to accelerate new housing and its support of the Financial Conduct Authority (FCA) to promote responsible lending through changes to mortgage affordability stress testing and simpler mortgage rules.
He said these measures should both “help more renters become first-time buyers and support sustainable growth”.
The firm said it was “pleased” with its performance so far this year and continued to trade in line with expectations.
