Mortgage Advice Bureau has said it achieved a “resilient performance” in the first half against a “challenging market backdrop”.
A trading update for the six months to 30 June 2026 said “subdued consumer confidence and continued volatility in mortgage pricing” created a “more complex environment for both customers and advisers”.
Despite these conditions, total mortgage completions increased by 16 per cent to approximately £16.5bn.
Group revenues for the period rose by 8 per cent to about £160m. The first half was supported by “strong refinancing activity”, in contrast to H1 2025, when refinancing was “comparatively subdued and market growth was driven primarily by a 35 per cent year-on-year increase in purchase lending ahead of changes to Stamp Duty Land Tax relief”.
Adjusted pre-tax profits are expected to be approximately £14.6m, in line with the equivalent period last year of £14.5m.
Peter Brodnicki, founder and chief executive, “MAB delivered a resilient performance in the first half, with mortgage completions increasing by 16 per cent and further growth in our market share across both new mortgage lending and product transfers.
“The mortgage market remains predominantly refinance-led, with growth concentrated in remortgages and product transfers, while a sustained recovery in purchase activity has yet to emerge. This represents a significant change in business mix compared with the first half of 2025.
“Against this backdrop, MAB has continued to demonstrate its strength and resilience and we have strong visibility over the significant fixed-rate mortgage maturity opportunity in the second half.
“Management is taking targeted action to improve adviser productivity and profit conversion, with a particular focus on customer retention, protection performance, the delivery of acquisition synergies and continued cost discipline. These actions, together with the opportunities ahead, mean that I remain confident in the group’s outlook for the full year.
“Once again, we are demonstrating the strength of our business and financial model by pulling operational and commercial levers to respond to market conditions.”
