Mortgage Advice Bureau Regulatory News (MAB1)

16 May 2018

Mortgage Advice Bureau (Holdings) plc

AGM Statement

Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, will hold its Annual General Meeting at 2pm today during which the Non-executive Chairman, Katherine Innes Ker, will make the following statement:

"Adviser numbers have continued to grow since our final results statement on 20 March 2018 and had increased to 1,116 advisers as at 11 May 2018. Organic recruitment has been in line with the Board's expectations and we expect new business recruitment to be weighted again to the second half of the year.

"MAB welcomes the recently published Interim Report from the FCA on their Mortgage Market Study, which reported that the mortgage market is working well in many respects, but highlighted the importance of developing tools for consumers to better compare different mortgage deals, the potential for intermediaries to offer execution-only sales and also the need to make it easier for consumers to assess the relative strengths of intermediaries. 

"This is in line with our strategy which remains focused on consumer choice and outcomes, and securing further growth through technology, lead generation and specialisation which will increase our market share and the number of mortgage completions in all market conditions, enabling us to continue to deliver strong returns to our investors.

"We are just over a year into our three-year plan that is focused on building solutions for the future; this will ensure MAB is able to maintain and build upon its leading position in the intermediary sector. We continue to invest in our core business model with our plans for 2020 and beyond designed to secure sustainable long-term growth whilst continuing to deliver strong results in the meantime. Current trading is in line with the Board's expectations and we look forward to delivering further growth in the remainder of this financial year."

Enquiries: