Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Mortgage Advice Bureau Reports Revenue Growth Amid Challenging Market
Mortgage Advice Bureau (MAB) reported increased revenue and mortgage completions in the first half of 2026, despite describing the UK housing market as challenging, with subdued consumer confidence and volatile mortgage pricing.
The technology-led property finance group stated that mortgage completions rose by 16% to approximately £16.5 billion in the six months to 30 June 2026, up from £14.2 billion a year earlier. Revenue increased by 8% to around £160 million, compared to £148.2 million in the first half of 2025, supported by property refinancing.
MAB noted that the previous year's activity had been driven by a surge in purchase lending ahead of 2025 changes to Stamp Duty Land Tax relief. During the latest period, the group’s market share of new mortgage lending increased to 8.3% in the five months to 31 May, up from 8.2% a year earlier. Its share of product transfers also rose to 3.2% from 2.9%.
Adjusted profit before tax is expected to be around £14.6 million, broadly unchanged from £14.5 million in the first half of 2025. The company reported that margins were affected by a shift towards refinancing and product transfers, slower growth in protection policy sales, and delayed benefits from integrating businesses acquired late last year. Protection policy volumes grew more slowly than mortgage completions, reflecting a greater proportion of remortgages and product transfers, which typically generate fewer protection sales than house purchase lending.
The number of mainstream advisers increased by 3% to 2,194 at the end of June, up from 2,135 at the end of 2025. Average revenue per adviser remained stable at £74,000.
Looking ahead, MAB expects full-year results to be in line with market expectations. The company reported that mortgage applications were 15% higher year-on-year during the first 19 weeks of 2026, helped by customers refinancing early amid interest rate uncertainty. However, applications fell 13% year-on-year in the following seven weeks to the end of June, leaving year-to-date applications 7% higher than the same period last year. The slowdown was attributed to some refinancing activity being brought forward and weaker demand amid continued uncertainty in the housing market.
MAB stated it has 70,000 fixed-rate mortgage maturities due in the second half of the year, which it expects will support refinancing volumes. The company is not assuming any recovery in housing transactions while geopolitical and domestic policy uncertainty continues. MAB is scheduled to publish its interim results on 22 September 2026.
Source: Mortgage Strategy