Mortgage broker “outperforms market”

Mortgage Advice Bureau has said it “significantly outperformed the market” towards the end of last year, according to its latest trading update.

Trading was better than anticipated in the Derby firm’s fourth quarter, and the company now expects to report an adjusted profit before tax slightly ahead of the current market consensus.

Peter Brodnicki, chief executive at MAB, said: “2023 was an exceptionally challenging year with consumer confidence heavily impacted, resulting in many customers deciding to delay their house purchase or re-financing.

“Against this difficult backdrop I am very pleased with how MAB has significantly outperformed the market.

“To ensure we are in the best possible shape when market conditions improve, we have continued to invest across the entire group to drive lead flow and deliver optimal business and adviser efficiency.

“There is a great deal to be positive about, and our technology developments and lead initiatives, including the addition of Fluent, have broadened our addressable market and strengthened our growth plans.”