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Mortgage Advice Bureau unveils growth plans

Mortgage Advice Bureau unveils growth plans

Mortgage Advice Bureau (MAB) has unveiled plans to secure 'further growth through technology'.

Speaking at its annual general meeting on Wednesday (16 May), non-executive chairman Katherine Innes Ker said the number of advisers working athe business has increased to 1,116 advisers this month and it will now incorporate more technology in a bid to grow.

She said: "Organic recruitment has been in line with the board's expectations and we expect new business recruitment to be weighted again to the second half of the year.

"MAB welcomes the recently published interim report from the FCA on their Mortgage Market Study, which reported that the mortgage market is working well in many respects, but highlighted the importance of developing tools for consumers to better compare different mortgage deals, the potential for intermediaries to offer execution-only sales and also the need to make it easier for consumers to assess the relative strengths of intermediaries. 

"This is in line with our strategy which remains focused on consumer choice and outcomes, and securing further growth through technology, lead generation and specialisation which will increase our market share and the number of mortgage completions in all market conditions, enabling us to continue to deliver strong returns to our investors.”

She added MAB is more than a year into its three-year plan that is focused on building solutions for the future.

She said the business will continue to invest in its core business model with plans for 2020 designed to secure sustainable long-term growth while continuing to deliver strong results.

She said: "Current trading is in line with the board's expectations and we look forward to delivering further growth in the remainder of this financial year."

aamina.zafar@ft.com