Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

MAB Reports 16% Rise in Mortgage Completions Despite Market Challenges

Mortgage Advice Bureau (MAB) has reported a 16% increase in mortgage completions for the first half of 2026, reaching approximately £16.5 billion. This growth was achieved despite what the company described as a “challenging market backdrop” marked by subdued consumer confidence and market volatility.

MAB’s trading update revealed that revenue rose by 8% year-on-year to £160 million, with refinancing activity being a key driver. The firm’s share of new mortgage completions increased from 8.2% to 8.3% in the five months to May, while its share of product transfers rose from 2.9% to 3.2%.

There was a 15% increase in mortgage applications during the first 19 weeks of the year compared to the same period last year, attributed to accelerated refinancing in March and April as borrowers sought to fix rates before their products expired. However, the following seven weeks saw a 13% year-on-year decline in applications, resulting in an overall 7% increase in applications for the first half of the year compared to 2025.

MAB identified around 70,000 fixed rate mortgage maturity opportunities in the second half of 2026, which it expects will support further refinancing activity. The company does not anticipate an improvement in housing transactions due to ongoing macroeconomic volatility.

The business mix has shifted towards remortgages and product transfers, which typically generate lower volumes of protection policies than purchase business. This shift, along with slower growth in protection policy volumes and the timing of benefits from integrating subsidiaries Evolve and Meridian, contributed to a slight increase in profit before tax from £14.5 million to £14.6 million.

The number of mainstream advisers at MAB rose by 3% to 2,194 since December, while average revenue per adviser remained steady at £74,000. MAB expects profitability to be more weighted towards the second half of the year, supported by revenue growth, customer retention, protection, and actions to improve adviser productivity.