MORTGAGE ADVICE BUREAU (HOLDINGS) PLC (MAB1) — Interim results for the six months ended 30 June 2026

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the Mortgage Advice Bureau PLC Investor Presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions and inquiries can be submitted at any time via the Q and A tab situated on the right hand corner of your screen. Please just simply type in your questions and press send. Before we begin, I'd like to submit the following poll. And I'd to hand you over to the management team, Peter. Good morning, sir. Good morning, and good morning, everybody, and thank you for dialing in, for our half year results update. Obviously, we did have to release the news a few weeks ago in terms of resetting expectations for this year's numbers. Today, we wanna give you a bit more context around that, and hopefully reassure you about how positive things are underlying all of that. And to kick things off, I'm gonna pass you to Mark. Thanks, Peter. Good morning, everyone, and thanks for joining MAB's 2026 interim results presentation. I'll begin with our first half highlights and some context on the markets that we operate in. Joe, our CFO, will then cover the financial review, before Peter provides an update on strategy. We'll leave plenty of time at the end for your questions. So first half to June, MAB delivered a a resilient performance consistent with the headlines that we preannounced a couple of weeks ago. Total mortgage lending increased by 16% to £16,500,000,000 despite mortgage pricing volatility creating a complex environment for customers and advisers. Growth was led by refinancing and particularly product transfers, which is where customers stay with existing lenders. And that supported strong activity levels but generated less revenue than we get from purchase lending, and that explains why revenue growth of 8.6...