27 June 2016
Mortgage Advice Bureau (Holdings) plc
Post referendum outcome comment
Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, makes the following commentary post the outcome of the referendum held on 23 June 2016 and noting the drop in its share price since.
It is still very early days following the outcome of last week's referendum, however MAB has already received an unprecedented number of remortgaging enquiries from customers on its website. MAB expects the reduction in house purchase transactions that was experienced ahead of the referendum to continue until the effects of the outcome on the wider UK economy become clearer. In the meantime, MAB's Advisers will continue to maximise the opportunities arising from their mortgage and protection leads.
There has been much press commentary regarding the potential outcome of the referendum on the London property market. Following completion of the sale of MAB's 49% stake in Capital Private Finance Limited expected in early H2 2016, MAB's exposure to the London market will reduce to c.6%.
MAB will publish its pre-close trading update on Thursday 28th July 2016.
Enquiries:
Mortgage Advice Bureau (Holdings) plc +44 (0)1332 525007 |
Peter Brodnicki, Chief Executive Officer |
David Preece, Chief Operating Officer |
Lucy Tilley, Finance Director |
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Zeus Capital +44 (0)20 3829 5000 Martin Green Nicholas How Pippa Underwood Canaccord Genuity +44 (0)20 7523 8350 Roger Lambert Kit Stephenson Richard Andrews Media Enquiries: [email protected] |
