MAB increases mortgage volumes 31%

Peter Brodnicki

Mortgage Advice Bureau processed £7.8bn of mortgage cases in 2015 – a 31 per cent increase in the previous year.

This gave the broker a 3.6 per cent share of new lending at the end of last year.

The firm reported a 51 per cent increase in pre-tax profit, rising from £6.9m in 2014 to £10.4m last year.

MAB reported a 33 per cent increase in revenue to £75.5m in 2015. Procuration fees accounted for 41 per cent of its income, insurance commission accounted for 40 per cent, client fees accounted for 17 per cent and the remaining 2 per cent came from other sources.

Average adviser numbers grew by 24 per cent to 720 between 2014 and 2015.

Chief executive Peter Brodnicki says: “”I am delighted to report that in the first full year following our IPO, we have had another year of strong revenue and profit growth, resulting from our strategy focused on our core areas of specialism. 2015 marked our seventh consecutive year of significant profit growth, demonstrating both our understanding of the market in which we operate and our focus on building a high quality business with sustainable profitability.

“Our share of UK new mortgage lending grew by 18 per cent to 3.6 per cent in 2015. We are confident that our strategy is on track to continue to deliver strong revenue growth and attractive returns to investors.”