|Mortgage Advice Bureau
||EPS - Basic
||Market Cap (m)
Mortgage Advice Bureau Share Discussion Threads
Showing 101 to 122 of 125 messages
|Mar 17 CML mortgage lending figure is £21.4bn -19% on Mar 16. Q117 £59.1bn down 6% vs £63bn in Q116. Feb 17 appears to have been revised lower from £18.2bn to £17.9bn. "Mortgage lending appears to be in neutral gear. Our gross estimate for March is £21.4 billion and this is broadly in line with average monthly lending over the past year. Within this aggregate level, there has been a shift towards first-time buyer and remortgage customers, away from home movers and buy-to-let landlords. We expect this profile to continue over the short-term, as low mortgage rates encourage existing borrowers to remortgage and government schemes help first-time buyers. We do not expect any marked effect from the General Election." (Https://www.cml.org.uk/news/press-releases/gross-mortgage-lending-increases-19-in-march/)|
|The increased proc fees will in part be due to increased house prices and therefore increased borrowing, as the proc fees are directly linked to the amount borrowed.
clients fees increased probably related to increased adviser numbers and more advisers charging a higher fee.
I m one of the only firms who are part of MAB that do not charge a client fee|
|Interesting. So the effect you describe (lower mortgage procuration fees offset at least partially by higher client fees) might be what's visible in the 2H16 on 2H15 comparison which saw mortgage procuration fees +9.1% but client fees +17.2%?|
|its to do with what are called Product Transfers or Rate Switches.....whereby at the end of any fixed or preferential rate period a customer can choose a new product with the same lender, as opposed to remortgaging to a new lender.
Lenders have long battled to keep this all in house, but the tide has changed recently and most now allow brokers to process this transaction or will do by the end of the year, although the procuration fee lenders is about half of what they pay for the origination of new business. approx 0.20% of the loan as opposed to 0.40%.
I guess where MAB see this as a revenue enhancer is most of their brokers charge the client a fee of which they get a slice, as well as getting a slice of the 0.20% and an opportunity to review protection (life cover etc etc)which they get a slice of the advisers commission and an override from the life assurer.|
|I'm intrigued by this statement from the results announcement: "Intermediaries previously had limited access to the product switching market in which customers change products with their existing lender. However, more lenders have started providing intermediaries with full access to this market which is estimated to be equal in size to the remortgage market which was c. £90bn in 2016. The CML industry data excludes product switches with the same lender." That suggests that the MAB addressable market could be up to 35% (£90bn/£240bn) larger than it is now. That sounds like a very good thing.|
|CML gross mortgage lending estimate for Feb 17 is £18.2bn marginally up on £18.1bn in Feb 16 (Https://www.cml.org.uk/news/press-releases/gross-mortgage-lending-182-billion-in-february/). Jan 17 appears to have been revised up from £18.9bn originally to £19.8bn. YTD17 (Jan-Feb) gross mortgage lending is £38bn vs £36.7bn 2016 or +3.5%. "Mortgage lending is holding up well, but under the surface buyers face mixed fortunes. First-time buyers and customers who are remortgaging are driving total lending, while home movers and buy-to-let remain weak." Mar 17 likely to be down significantly owing to last year's BTL surge. Next update 20 Apr.|
|CML gross mortgage lending estimate for Jan 17 is £18.9bn up 2% on Jan 16 and highest Jan total since 2008 (hxxps://www.cml.org.uk/news/press-releases/gross-mortgage-lending-189-billion-in-january/). "Overall mortgage lending continues to hold up pretty well, but we seem to have a twin-track market. Weakness in buy-to-let and home movers has been offset by an increase in first-time buyers and remortgage lending." Next update 23 Mar.|
|Trading update 27 Jan (hxxp://www.londonstockexchange.com/exchange/news/alliance-news/detail/1484928367593262800.html)
CML forecasts of gross mortgage lending £248b in 2017 and £252b in 2018 (hxxps://www.cml.org.uk/news/press-releases/new-cml-forecasts-for-2017-and-gross-lending-up-3-in-november/)|
|This has perked up nicely since it got hammered following the referendum. There should be a trading statement later in January so hopefully some good news.|
|Forecast for FY EPS left unchanged following the results.|
|28 July 2016
Mortgage Advice Bureau (Holdings) plc
Pre-close Trading Update
Mortgage Advice Bureau (Holdings) plc (the "Company" and together with its subsidiaries, "Mortgage Advice Bureau", "MAB" or the "Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, today issues a pre-close trading update for the six months ended 30 June 2016, ahead of publishing its interim results announcement on Wednesday, 28 September 2016(1) .
The average number of Advisers is a key driver of revenue. Following strong Appointed Representative recruitment in the first few months of the year, our total Adviser numbers at 30 June 2016 were up 13% to 891, with 101 new Advisers joining during the period. The average number of Advisers in the 12 months ended 30 June 2016 increased by 173 to 811, up 27% on the equivalent period last year(2) .
In the six months ended 30 June 2016, MAB generated revenue of GBP43 million, up 38% on the comparative period in 2015. At 30 June 2016, the Company had a strong balance sheet, with cash of over GBP16 million, including over GBP9.5 million of unrestricted cash balances.
MAB expects to complete the sale of its 49% stake in Capital Private Finance Limited shortly, after which MAB's exposure to the London market will reduce to c.6% in terms of revenue.
It is still early days following the UK referendum vote to leave the EU, however recent Rightmove data(3) concluded that "based on two weeks of post-Brexit-vote statistics...the housing market remains steady, underpinned by the same fundamentals that have led to its recovery since the last downturn". This is reflected in the feedback we are receiving from our estate agency business partners that activity from both buyers and new instructions are holding up better than anticipated.
MAB's Appointed Representative and Adviser recruitment shows no signs of slowing post the referendum outcome and our Advisers continue to focus on maximising the opportunities arising from their mortgage and protection leads. We continue to support our established Appointed Representatives with their plans to grow their local market share; there has been little or no impact on their organic growth plans post the referendum outcome. Overall, current trading is in line with the Board's expectations.
(1) The interim dividend in respect of the six months ended 30 June 2016 will be paid on 28 October 2016 and the record date is 7 October 2016.
(2) The average number of Advisers in the six months ended 30 June 2016 was 851 (2015: 671).
(3) The Rightmove House Price Index, Monday 18 July 2016.
Peter Brodnicki, CEO of Mortgage Advice Bureau (Holdings) plc, said:
"Despite early concerns in the business community post the UK referendum, there is plenty of business to be done and at MAB we are just getting on with it. Whilst Brexit might have created some headwinds for the UK economy, we remain focused on continuing to grow MAB's market share and strengthening our position as one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks."|
|Pre-close Trading update next thursday 28th could see this back to £3.00+.|
|You're ignoring the special dividends|
|Isn't the divi 9.5p i.e.3.77%|
|The fundamentals are compelling to me so bought back a few weeks ago after it had been badly hammered because of brexit.|
|Market finally woken up to how cheap this stock is. 9% yield!!|
|ouch..almost 50% down in the last two months from its highs|
|I bought in early this year at 304p and have had a roller coaster ride upto 400p and now down to 195p. I can't see that Brexit is going to totally stall the housing market and I would have thought with the possibility of lower interest rates there will be a lot of people looking to remortgage. Anyway don't see any point in selling at this level so will continue to sit it out.|
|Yes - in H2.|
|Is there a special dividend due soon on this share?|
|gooner108 - shouldnt you declare an interest ie that you are being paid by research-tree|