Mortgage Advice Bureau increases number of advisors

February 4, 2020 by Brendan O'Neill

Mortgage Advisors

The Mortgage Advice Bureau significantly increased the number of mortgage advisors it has on its staff during the course of 2019, with 20% more brought in over the year.

This news was confirmed by the organisation in its latest stock market trading update. It shows that at the start of the year, the Bureau had 1,213 mortgage advisors on its payroll, but by the time 2019 came to a close, that number had risen to 1,457. The company is stating that the main reason it was able to do this was due to a successful growth strategy, but it is not the sole reason.

The decision to buy First Mortgage Direct, in a deal that went through during the summer of last year, led to 82 of the advisors previously employed by First Mortgage Direct moving over to the Mortgage Advice Bureau. However, it is certainly an encouraging sign for the company after all of the economic troubles created by the Brexit situation during the first part of 2019.

The effect that situation had on the housing market in the UK is being blamed for the 3% drop in average advisor revenue last year, which was also reported in the trading update. This was balanced out by a 16% rise in the profits for the company as a whole, attributable to the purchase of First Mortgage Direct and the hiring of additional advisors.

What this demonstrates is that there are plenty of career opportunities for advisors with the proper CeMAP mortgage advisor training.