Mortgages 

Mortgage Advice Bureau grows adviser numbers

Mortgage Advice Bureau grows adviser numbers

Mortgage Advice Bureau has grown the number of its advisers by 5 per cent this year to date.

In a statement released to the stock exchange this morning ahead of the firm's Annual General Meeting later today (May 21) the firm stated the total number of advisers had reached 1,272 as at May 17.

The company’s non executive chairman Katherine Innes Ker said an area of future growth for the business will come from further appointed representatives joining the firm.

She said: "Although some of our existing ARs with direct links to the estate agency sector continue to pause their expansion plans and delay filling vacancies as a result of reduced confidence amid political uncertainty resulting in a somewhat subdued housing market, the majority of our ARs continue to hold strong growth plans for 2019 and 2020.  

"However, against the backdrop of continuing uncertainty we have seen housing transactions taking longer to complete in this financial year to date, impacting the timing of our banked revenue."

Ms Innes Ker said she supports the recent FCA consultation paper in which the regulator stated an aim to reduce the barriers to firms in the mortgage market offering an execution only service after it found 'too many' people may be unnecessarily taking advice.

She said: "Our plans have always been to offer all the choices that customers would ever want, including execution only, and our technology solutions are being developed to facilitate the highest level of choice.

"Our commitment to customer advice is to simplify the process significantly and deliver advice however customers choose, to ensure advice is the natural and obvious choice for all customers, and for all transaction types regardless of the level of complexity."

david.thorpe@ft.com

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