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60 seconds with – Peter Brodnicki, Chief Executive Officer, Mortgage Advice Bureau

Mortgage advice bureau reported a record pre-tax profit of £1.9m for 2011, why was it so high?
Our profits have been increasing at similar levels for three years now due to improved adviser performance and strong year-on-year increases in adviser numbers.

How is Capital Private Finance – your new joint venture with Countrywide – going?
It’s going well. The plan was to build a strong sales team in the first six months of trading which we have now done. Each month is seeing business levels rise and this new business has already started to make a profit, which we are delighted about.

A lot brokers are getting complaints from claims firms, is this something you are experiencing?
Some but minimal.

A couple of years ago you gave your advisers the option to charge a fee for advice, what percentage of your advisers do you estimate are now doing this?
All our advisers charge fees. On the network side of our business more than 70% of mortgages have an arrangement fee charged.

What do you think is the main threat to the intermediary market at the moment?
The threats are self-inflicted. Some intermediary businesses and networks need to raise the bar in terms of adviser and business quality.

If you were in charge of the Financial Services Authority for a day what would you do?
Take the day off.

If you could invite three people to a dinner party who would they be and why?
Someone who could do the cooking such as Heston Blumenthal, a comedian to tell jokes like Peter Kay, and any Queens Park Rangers fan so I could spend hours discussing Fulham’s double win over them this season, especially the 6-0 defeat.

Do you have any secret talents?
Being the first to get into work however heavy the night before was – not a talent my team appreciates.

Apart from your house, what has been your most extravagant purchase?
My Fulham season ticket x 34.

What is your most treasured possession and why?
MAB – I love the job and the people, and it pays for my Fulham habit.

Interview by Natalie Thomas


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