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MAB hits record profit of £1.9m

Mortgage Advice Bureau made a pre-tax profit of £1.9m for 2011, up from £1.25m in 2010, beating its previous record of £1.4m in 2007.

The brokerage attributes its growth to a 30% rise in mortgage applications and increased sales of protection and general insurance.

Peter Brodnicki, chief executive officer of MAB, says: “We are delighted with our results, especially considering we have invested heavily in our appointed representative proposition.

“The sharp increase in sales and profitability of the last few years is set to continue with 2012 expected to be another strong year.”


Caption Competition

If I Were You’s Rob Clifford (centre) and friends say cheers at the recent Mortgage Strategy Awards

Week in numbers

£75,000 – The maximum discount social tenants will be offered under the revamped Right to Buy scheme, the government revealed. 4.5 million – The number of Britons who are permanently overdrawn, says 37% – The percentage of incapacity benefit claimants deemed fit to work by the Department for Work and Pensions after being reassessed […]


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