Mortgage broker reports revenues rise

Mortgage Advice Bureau has announced a rise in revenues after filing its interim results.

The listed Derby company recently posted revenues of £123.9 million for the six months to 30 June, up from £117.5 million in 2023.

It generated pre-tax profits of £6.2 million, down from £7.5 million.

Chief executive Peter Brodnicki said: “Having now seen the first of a number of expected base rate cuts, activity levels are starting to gradually build again and we expect momentum to continue.

“Against this backdrop I am very pleased with the progress MAB continues to make in a year that mortgage volumes are likely to be at very similar levels to 2023.

“We expect to see record years in terms of re-financing activity in 2025/2026 and it is very encouraging to have a new government that is so focused on housebuilding and other initiatives that will bring a tail wind to MAB and our market.”