Mortgage Advice Bureau posted a full-year pre-tax profit jump of 41% to £22.9m from a year ago, on higher procuration and client fees.  

The broker network says procuration fees rose 7.9% to £105.8m in the 12 months to the end of December, “underpinned by a strong second-half performance and a higher proportion of house purchase transactions”. 

Protection and general insurance commissions lifted 12.4% to £104.7m in the period, the firm said in a full-year statement. Client fees were up 18.1% to £51.2m  

It added that the number of mainstream advisers rose 1.2% to 1,941 in the period – and stood at 1,985 advisers at the end of last week. 

Revenue per mainstream adviser lifted 12.3% to £138,700. 

The network said it saw “increased mortgage activity” in the second half of last year and into 2025.

It added: “The release of pent-up demand became evident in the final quarter of 2024, with mortgage applications rising by 15% compared to the fourth quarter of 2023.  

“According to UK Finance, gross mortgage lending is forecast to grow by 11% in 2025, while product transfers are projected to rise by 13%.” 

Mortgage Advice Bureau chief executive Peter Brodnicki pointed out: “2025 has begun strongly and in line with expectations, with many appointed representative firms anticipating growth in adviser numbers this year while maintaining a focus on increasing profitability through higher productivity.

The business, listed on Aim for over a decade, said last month it was considering a move to the main market, “which should provide access to a broader investor base and further enhance the group’s market profile”.