Mortgage Advice Bureau trading positively

(Sharecast News) - Mortgage Advice Bureau said in an update on Wednesday that trading in early 2025 continued to build on the increased activity seen in late 2024, supported by declining mortgage rates and stronger purchase demand.

Chair Mike Jones told shareholders at the company's annual general meeting that mortgage completions were particularly strong in the first quarter, helped by a rush to complete transactions ahead of changes to Stamp Duty Land Tax on 31 March.

Purchase activity was running ahead of last year, driven by improved affordability and a greater supply of new homes.

The group said it expected momentum to continue if mortgage rates remained stable or fall fell further.

Refinancing volumes were also forecast to pick up in the second half of 2025 and into 2026 as a wave of fixed-rate mortgages taken out during and after the pandemic reached maturity.

The number of mainstream advisers rose 3% since the start of the year to 2,003, reflecting growing confidence among Appointed Representatives and a recovery in recruitment.

MAB welcomed recent government and regulatory initiatives aimed at supporting homebuyers, including efforts to simplify mortgage rules and promote responsible lending.

At 1421 BST, shares in Mortgage Advice Bureau Holdings were down 0.24% at 820p.

Reporting by Josh White for Sharecast.com.

Mortgage Advice Bureau