Mortgage Advice Bureau (MAB) reported higher turnover and mortgage closings in the first half of the year, despite what it described as a challenging UK housing market, characterized by subdued consumer confidence and volatile mortgage prices.
The tech-led property finance group said mortgage repayments rose 16% to around £16.5 billion in the six months to June 30, 2026, up from £14.2 billion a year earlier.
Revenue rose 8% to around £160m from £148.2m in the first half of 2025, supported by property refinancing.
The group noted that the previous increase was instead driven by a surge in purchase loans ahead of the 2025 changes to the stamp duty tax credit.
Market share also increased during the period. The Mortgage Advice Bureau’s share of new mortgage loans rose to 8.3% in the five months to May 31, compared to 8.2% a year earlier, while its share of product transfers rose from 2.9% to 3.2%.
Adjusted pre-tax profit is expected to be around £14.6 million, largely unchanged from £14.5 million in the first half of 2025.
The company said margins were impacted by a shift to refinancing and product transfers, slower growth in protection policy sales and the delayed benefits of integrating companies acquired late last year.
Protection policy volumes grew more slowly than mortgage completions, reflecting the higher share of refinancing mortgages and product transfers, which typically generate fewer protection sales than home loans.
The number of regular advisers increased by 3% from 2,135 at the end of 2025 to 2,194 at the end of June, while average turnover per adviser remained stable at £74,000.
Looking ahead, the Mortgage Advice Bureau expects annual results to be in line with market expectations.
The company said mortgage applications were up 15% year-over-year in the first 19 weeks of 2026, helped by customers refinancing early due to interest rate uncertainty.
However, applications fell by 13% year-on-year over the subsequent seven weeks to the end of June, leaving year-to-date applications 7% higher than the same period last year.
Management said the slowdown was due to early refinancing activity, in addition to weaker demand due to continued uncertainty in the housing market.
The group said 70,000 fixed-rate mortgage loans are due in the second half of the year, which is expected to support refinancing volumes. However, no recovery in housing transactions is expected as long as geopolitical and domestic policy uncertainty persists.
The company will publish its half-year results on September 22, 2026.
MAB chief executive Peter Brodnicki (pictured) said: “MAB delivered a resilient performance in the first half of the year, increasing mortgage originations by 16% and further growing our market share in both new mortgage lending and product transfers.
“The mortgage market remains predominantly refinance-led, with growth concentrated in refinances and product transfers, while a sustainable recovery in purchasing activity has yet to emerge. This represents a significant change in the business mix compared to the first half of 2025.
“Against this backdrop, MAB has continued to demonstrate its strength and resilience and we have a strong view of significant opportunities in fixed rate mortgage maturity in the second half.”