MAB reports record profits
This makes 2012 the fourth successive year where MAB’s annual profit growth has exceeded 40%.
MAB’s growth trend is expected to continue in 2013 buoyed by improving market conditions and government backing to encourage more access to and movement in the property market.
Peter Brodnicki, chief executive of MAB, said: “We are delighted with our results for 2012 at a time when we had to give a lot of attention to successfully integrate Mortgage Talk into the MAB group.
“Despite a very weak mortgage market over the last five years, MAB has always remained a profitable business without the need to increase charges, and yet we have continued to invest heavily in our appointed representative proposition.
“As a result we have attracted more very high quality and ambitious firms which remain our target market.”
MAB saw record levels of mortgage applications and sales of protection and general insurance products during 2012.
In terms of lending volumes MAB has increased its run rate from just over £3bn to £5bn in the last 12 months and anticipates lending volumes will continue to rise strongly.