LONDON (Alliance News) - Mortgage Advice Bureau (Holdings) PLC Friday said it expects its underlying trading performance to be ahead of its expectations when it joined AIM in November last year, citing strong mortgage lending in the UK.
In a statement, the mortgage broker network said activity levels since the end of June last year have been strong, with revenue continuing an upward trend.
Mortgage Advice Bureau said it generated revenue of GBP57 million in 2014, a 42% increase on the prior year, as adviser numbers increased by 113 to 634. The average number of advisers, which the company sees as a key driver of revenue, grew by 92 to 581.
"A combination of increased lending, greater product choice and more banks entering the mortgage market has all been good news for both the consumer and the mortgage intermediary, whose market share has continued to increase," Peter Brodnicki, chief executive, said in a statement.
The group is to publish results for 2014 on March 26.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Mortgage Advice Bureau (MAB1)