LONDON (Alliance News) - Mortgage Advice Bureau (Holdings) PLC on Monday said it noted the drop in its share price following the EU referendum result.
Shares in Mortgage Advice Bureau were trading down 13% at 249.50 pence on Monday, having lost 11% on Friday.
The company said it has received an "unprecedented number" of remortgaging enquiries from customers since Friday's referendum result. However, it said it expects the reduction in house purchase transactions that was experienced ahead of the referendum to continue until the effects of the outcome of the vote on theUK economy become clearer.
Mortgage Advice Bureau added that following completion of the sale of its 49% stake in Capital Private Finance Ltd, which is expected to occur early in the second half of 2016, its exposure to the London market will reduce to around 6%.
Mortgage Advice Bureau will publish a trading update on July 28.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Mortgage Advice Bureau (MAB1)