Mortgage Advice Bureau (... Share Discussion Threads

[gsbmba99] 25/1/2019 09:47

New UK Finance spreadsheet out - . Dec 18 estimate is £21.1bn vs £20.1bn last year for +4.7%. Full year prelim total is £267.5bn in 2018 vs £257.5bn prior year or +3.9%.

[trytotakeiteasy] 11/12/2018 10:43

Covered here:

cube.investments/mortgage-advice-bureau-mab1-quality-and-income/

[gsbmba99] 27/11/2018 08:15

Belvoir has announced the acquisition of MAB (Gloucester) Limited which is the largest appointed representative firm by number of advisers. When combined with Brook, BLV will have 127 advisers representing >10% of MAB1 reps. "... Belvoir Group has executed a new, long term exclusive agreement with MAB." Improved security for by far the largest rep firm though no mention of any margin impact.

[gsbmba99] 26/11/2018 23:21

The October UK Finance gross mortgage lending spreadsheet was published. Oct 18 was £25.5bn vs £24.2bn last year or +5.6%. YTD through October is £222.4bn vs £213.8bn last year or +4.0%.

[gsbmba99] 24/10/2018 09:45

The September UK Finance gross mortgage lending spreadsheet was published. Sep 18 was £21.5bn vs £21.8bn last year or -1.2%. YTD through September is £197.3bn vs £189.5bn last year or +4.1%.

[chapchip] 08/10/2018 16:38

perhaps they meant short it....as its not got momentum the right way currently

[johnv] 04/10/2018 21:52

Momentum investor,

[trytotakeiteasy] 04/10/2018 13:22

who tipped it?

[johnv] 04/10/2018 12:32

This was tipped in August at 627p , shot up to 740 and now collasping, anybody know why

[gsbmba99] 26/9/2018 13:40

The August UK Finance gross mortgage lending spreadsheet was published. Aug 18 was £24.1bn vs £24.4bn last year or -1.2%. YTD through August is £175.3bn vs £167.7bn last year or +4.5%. These stats exclude product transfers which we learned yesterday were >£50bn in Q1 of this year and currently annualise to £200bn+.

[gsbmba99] 24/8/2018 12:30

The July UK Finance gross mortgage lending spreadsheet was published. Jul 18 was £24.6bn vs £22.9bn last year or +7.6%. YTD through 7 months is £150.8bn vs £143.3bn last year or +5.2%.

[chapchip] 13/8/2018 13:53

where was it tipped ?

[johnv] 13/8/2018 13:37

This got tipped this weekend hence the rise

[gsbmba99] 13/8/2018 06:51

I imagine it's the combination of interest rate rise and not many buyers around in August. LSE have analytics - Page 1, lower left relative strength has fallen through the floor. Seems to happen to MAB1 once or twice a year.

[johnv] 11/8/2018 14:22

Due to the interest rise maybe ?

[chapchip] 03/8/2018 11:30

trend broken with this drop?

[gsbmba99] 25/7/2018 11:29

The June UK Finance gross mortgage lending spreadsheet was published. Jun 18 was £23.5bn vs £23.0bn last year or +2.1%. YTD through 6 months is £127.0bn vs £120.5bn last year or +5.4% for 1H.

[gsbmba99] 23/7/2018 08:30

There's a new spreadsheet on the UKF website ( ) Total mortgages outstanding and total lending by lender for 2016 and 17. I find it interesting that the total mortgage balance outstanding in 2017 was £1,319.3bn and that total mortgage issuance in 2017 was £249.9bn. If you include product transfer/rate switch of £90-150bn (ie total mortgage issuance £339.9bn-£399.9bn/year), suggests average lifespan of a mortgage about 3.3-3.9 years. The velocity of mortgage turnover is quite high.

[chapchip] 16/7/2018 14:25

yes but don t forget that a lot of it is done by the lenders direct.....and the proc fees paid by most lenders are around half of that of new business

[gsbmba99] 16/7/2018 14:06

About 2:40 in, the lady from Lloyds says the product transfer/rate switch market was £150bn in 2016. If correct, suggests that this market is very significantly larger than the £90bn guesstimate previously used by MAB1. Don't know what our resident experts think of this estimate.
More generally, there are some interesting topics if interested in mortgage advisers, investment platforms and/or SBIZ.

[opodio] 27/6/2018 10:57

SBIZ




courtesy of GHF


Glasshalfull25 Jun '18 - 18:14 - 15 of 20
0 0 0
Snap Mas!
Met the joint CEO duo at Mello 2018 & impressed by them & business...valuation at that juncture stopped me from investing.

However, went back through the Admission Doc & Zeus initiation & decided to pay up.

Why?

* Earnings growth +28% EPS growth estimates this year (10.5p Adj EPS) / +23% in 2019 (12.9p EPS) / +16% in 2020 (15p EPS). PEG 0.75 or thereabouts.

* Growth in compliance - more & more regulation coming on stream. We’ve just had MifID II & GDPR...with SBIZ support services fulfilling this requirement. Organic growth c.5% with cross selling opportunities.

* Breadth of offering - Monthly membership subs from 3,400 firms & in addition many pay for software. Distribution channels to 135 financial institutions, as well as offering investment via Verbatim funds & other discretionary services.

* Strong cashflow - Forecast over next few years. 2018E £3.6m net cash / 2019E £9.5m / 2020E £16.8m

* Strong Recurring Revenues - Sticky customer base with 92% recurring revs. Admission doc indicates non-cyclical. In other words a defensive play in uncertain times.

* Rising Margins - EBIT margin of 20% in 2016 rising to c.21% in 2018 & 22% in 2019.

I also think they’ll add some bolt-on acquisitions from reading through the commentary, which suggested that it will be on an earnings enhancing basis. Also indications of a maiden dividend this year which is forecast to rise materially next year to provide a yield c.2.4% & 2.8% in 2019 & 2020.

Anyway, small investment for the timebeing & will await the forthcoming trading update/ results for H1 with interest.

Kind regards
GHF

[opodio] 27/6/2018 10:56

SBIZ the new MAB


Glasshalfull25 Jun '18 - 18:14 - 15 of 20
0 0 0
Snap Mas!
Met the joint CEO duo at Mello 2018 & impressed by them & business...valuation at that juncture stopped me from investing.

However, went back through the Admission Doc & Zeus initiation & decided to pay up.

Why?

* Earnings growth +28% EPS growth estimates this year (10.5p Adj EPS) / +23% in 2019 (12.9p EPS) / +16% in 2020 (15p EPS). PEG 0.75 or thereabouts.

* Growth in compliance - more & more regulation coming on stream. We’ve just had MifID II & GDPR...with SBIZ support services fulfilling this requirement. Organic growth c.5% with cross selling opportunities.

* Breadth of offering - Monthly membership subs from 3,400 firms & in addition many pay for software. Distribution channels to 135 financial institutions, as well as offering investment via Verbatim funds & other discretionary services.

* Strong cashflow - Forecast over next few years. 2018E £3.6m net cash / 2019E £9.5m / 2020E £16.8m

* Strong Recurring Revenues - Sticky customer base with 92% recurring revs. Admission doc indicates non-cyclical. In other words a defensive play in uncertain times.

* Rising Margins - EBIT margin of 20% in 2016 rising to c.21% in 2018 & 22% in 2019.

I also think they’ll add some bolt-on acquisitions from reading through the commentary, which suggested that it will be on an earnings enhancing basis. Also indications of a maiden dividend this year which is forecast to rise materially next year to provide a yield c.2.4% & 2.8% in 2019 & 2020.

Anyway, small investment for the timebeing & will await the forthcoming trading update/ results for H1 with interest.

Kind regards
GHF

[gsbmba99] 26/6/2018 09:22

The May UK Finance gross mortgage lending spreadsheet was published. May 18 was £22.2bn vs £20.4bn last year or +8.8%. YTD through 5 months it's £103.7bn vs £97.4bn or +6.4%.