Mortgage Advice Bureau works to reassure investors post-Brexit

One of the UK’s largest house lending consumer intermediaries and specialist Appointed Representative Networks, Mortgage Advice Bureau, released commentary on the outcome of the Brexit referendum result on Monday.

The AIM-traded firm said while it is still early days, it has 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,” it said in a statement.

“In the meantime, MAB's advisers will continue to maximise the opportunities arising from their mortgage and protection leads.”

The company said there has been much press commentary regarding the potential outcome of the referendum on the London property market.

It reiterated that, following completion of the sale of its 49% stake in Capital Private Finance expected early in the second half, its exposure to the London market will reduce to around 6%.

Mortgage Advice Bureau is due to publish its pre-close trading update on 28 July.