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Mortgage Advice Bureau reports 790 adviser members in December

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  • 21/01/2016
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Mortgage Advice Bureau reports 790 adviser members in December
Mortgage Advice Group’s adviser numbers rose to 790 at 31 December 2015, which is 25% higher than last year.

Last year, MAB had 634 advisers in December 2014, up from 581 against the previous year.

Mortgage Advice Bureau (MAB), the first UK mortgage advice network to float generated revenue of £75m to December, representing a 33% increase on 2014.

MAB said: “Following a particularly strong end to the year in terms of both commission banked and performance from our associated businesses, the Company’s underlying trading performance for the year ended 31 December 2015 is ahead of the Board’s expectations.”

The Company has a balance sheet cash position of £14m, including over £8m of unrestricted cash balances.

MAB continues to expand adviser numbers and AR firms, it said.

Peter Brodnicki, CEO of Mortgage Advice Bureau (Holdings), (pictured) said:”I am delighted with our performance in our first full year post IPO. This is our seventh consecutive year of strong profit growth, demonstrating our understanding of the market in which we operate and our focus on building a high quality business with sustainable profitability.”

The group publishes its final results on 22 March 2016.

In November, the holding company and one of the UK’s leading consumer mortgage brands and networks for mortgage intermediaries, invested £350,000 cash in conveyancing portal Sort Refer.

This was the firm’s first equity investment since its AIM listing in November 2014.

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