23rd Jan 2025 11:16
Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage broker - Citing pent-up demand and an increase in mortgage applications, revenue grows 11% to around GBP266 million in 2024 from GBP239.5 million in 2023, sharply higher than the 4% growth in UK gross lending for the same period. Further, Mortgage Advice expects to report adjusted pretax profit of GBP30.5 million for 2024, a 31% surge from GBP23.2 million in 2023, and 4.5% higher than the consensus of GBP29.2 million. Mortgage Advice Bureau notes "clear signs of pent-up demand" as mortgage applications rose 15% on-year in the fourth quarter of 2024, with this momentum set to be maintained. "UK Finance forecasts gross new lending to rise 11% in 2025 in GBP235 billion, which we believe is a realistic estimate," Mortgage Advice says. Read More
