EL7.AI
StocksMediumUpdated•Originally published 9 September 2026•Updated 9 September 2026•
2 min read

Mortgage Advice Bureau (MAB1) Shares Slide About 19% After Profit Forecast Cut

Key Facts

1Mortgage Advice Bureau (MAB1) shares fell about 19% to roughly 400p in London trading.
2The company cut its 2026 adjusted pre-tax profit forecast to £38 million versus £43.4 million consensus.
3Lead-flow delays and early costs reduced Fluent's expected 2026 profit contribution by about £5 million.
4House-purchase mortgage approvals fell to 56,100 in July 2026 from 65,400 in July 2025.

Mortgage Advice Bureau (MAB1) shares fell about 19% to roughly 400p in London trading after the group cut its forecast for 2026 adjusted profit before tax to approximately £38 million.

The new forecast compares with company-compiled market consensus of £43.4 million. The group attributed the downgrade to an anticipated recovery in home-purchase activity that failed to materialise and delays to new customer lead flows expected at its Fluent unit.

The company said UK purchase transactions declined 3% in the first 7 months of 2026 and that it does not expect a meaningful short-term recovery in purchase activity as affordability remains constrained.

Bank of England data reinforce the slowdown: net mortgage approvals for house purchases fell to 56,100 in July 2026 from 65,400 in July 2025. Approvals are a forward indicator of borrowing and housing activity.

At Fluent, delays to the launch of new lead-flow arrangements and pilot costs incurred before the associated revenue reduced the unit's expected 2026 profit contribution by about £5 million. The group said the anticipated profit growth from Fluent had effectively shifted into 2027.

For the first half of 2026, the company expects adjusted profit before tax of approximately £14.8 million, compared with the £14.6 million estimate in its July update and £14.5 million in the first half of 2025. Despite the full-year downgrade, the 2026 forecast still represents growth of about 5% from 2025.

The mortgage market remains weighted toward refinancing, particularly product transfers with the same lender, rather than home-purchase borrowing. The company sees an opportunity from fixed-rate mortgage maturities during the rest of 2026, although weak purchase activity and the Fluent delay constrain expected profit growth.

Interim results for the 6 months ended June 30, 2026 are scheduled for September 22, 2026. Investors will focus on when Fluent's lead flows begin, how purchase activity develops and whether refinancing opportunities can offset weakness elsewhere in the market.