Source - SMW
Mortgage broker Mortgage Advice Bureau said it expected its growth to start resuming progressively, now that the UK government had permitted a reopening of the country's housing market.

The company's adviser numbers had remained stable since its final results announcement on 23 April, totaling 1,476, including 215 furloughed advisers, chairman Katherine Innes Ker said in AGM speech notes.

'Amid a relaxation of the lockdown announced by the UK Government, the housing market re-opened in England on 13 May 2020 with new regulations enabling surveyors to undertake physical valuations and property appraisals and buyers to visit properties and arrange removals, subject to a new set of safety guidelines,' she said.

'This signals the start of a gradual recovery of the housing market, despite some remaining loan to value constraints.'

'Restrictions on the housing market in Wales, Northern Ireland and Scotland remain in place but are expected to be lifted shortly.

'After a strong first quarter followed by two months of significant reduction in purchase-related activity under lockdown, we expect our growth to start resuming progressively as advisers come out of furlough and purchase related productivity starts to build.'


At 9:05am: (LON:MAB1) Mortgage Advice Bureau Holdings PLC share price was -12p at 588p



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