Mortgage Advice Bureau (MAB1) H1 2025 TU earnings summary

Financial performance

• Revenue for H1 2025 rose 19% to approximately £147m, with adjusted PBT up 14% to about £14m compared to the previous year.

• Gross mortgage completions increased by 14% to around £13.8bn, aided by property transactions ahead of SDLT changes.

• Market share of new mortgage lending grew to 8.3% for the five months to May 2025, up from 8.1% in 2024.

• Average revenue per mainstream adviser increased 14% to £74k in H1 2025.

Operational highlights

• Number of mainstream advisers rose 5% year-on-year to 2,041 as of 30 June 2025.

• Adviser productivity and growth momentum are both increasing.

• Ongoing onboarding of advisers, including 23 from Mortgage Mum, under AR arrangements.

Market and regulatory environment

• Gradual recovery in purchase activity supported by improved buyer affordability and increased property supply.

• Anticipated acceleration in refinancing in H2 2025 and into 2026 as fixed mortgage deals mature.

• FCA initiatives on responsible lending and simplified mortgage rules expected to boost first-time buyers and refinancing.

• Positive response from government and regulators on housebuilding and home ownership initiatives.