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Mortgage Advice Bureau marks its busiest month on record

Mortgage Advice Bureau marks its busiest month on record

The Mortgage Advice Bureau, whose 500 advisers work chiefly out of estate agency branches, has had its most successful month ever.

MAB says that in July it recorded an 82% rise in mortgage business compared with the same month last year.

All told, it handled £554.7m worth of applications, the most in a month since the company was established in 2000.
 
Since January, the total value of mortgage applications at MAB has soared by 51% compared to the equivalent period in 2012. Applications totalling £3.32bn were submitted in the first seven months of 2013 compared with £2.21bn last year.
 
This growth puts MAB on track to surpass its 2012 total business by the end of August, with four months of the year still remaining.
 
MAB says it has seen a visible increase in the pace of growth since the Help to Buy scheme launched in April.

In the first three months of the year, the total value of its mortgage applications was up by 26% year-on-year; however, in the four months since Help to Buy launched, it shot up by 69% compared to 2012.
 
Peter Brodnicki, chief executive of MAB, said: “This looks set to be a landmark year both for MAB and the wider market.”