Mortgage Advice Bureau – Broker of the Year (More than 40 Advisers) nomination

2020 marked our 20th anniversary and 19 out of 20 years of growth. Our latest full year results show this was our 10th successive year of strong growth with lending completions over £20bn, an increase of 21%, revenue +19%, profit +28%, and market share +20%.

Another strong year, but what is equally pleasing is the level of investment in people and technology ensuring the business is future proofed by remaining totally focused on the customer, and therefore delivering consistently strong performance regardless of market conditions and changing customer behaviour.

Highlights

Technology

  • Delivered a secure messaging, document upload and sharing app, allowing brokers and customers to remotely upload and share documents.
  • In response to Covid we delivered a speech to text platform allowing any audio searchable, editable and shareable to support both compliance and sales needs.
  • Intuitive Nurture platform including:
    • Customer, Introducer and Broker Dashboards, giving control to Broker and customer, providing personal nurture journeys to clients.
    • Propensity tools to make knowing your customer better, easier and faster.
    • Using data science, developed methods of recording, storing, and analysing data to easily gain insights and knowledge from any type of data.
    • Open banking/ links to credit bureau/ score, enables pre-population of information across processes, improving customer and broker experiences
    • AWS Connect telephony fully integrated, providing quick, personalised customer information.

Customer Helpline

When Covid-19 struck, we launched a National Mortgage Support Service offering free advice to borrowers with concerns about their mortgage. This campaign reached nearly 500,000 people in the first six weeks of lockdown. We also offered free mortgage advice for all NHS workers. In total, over 40 new initiatives were launched in the first lockdown designed to support customers and advisers.

It provided an opportunity to build long-term customer relationships, keep spirits high and the phones ringing.

Protection

MAB have led the way with some outstanding protection results. Our protection process has meant that not only did we have less downturn than other mortgage firms, but we also saw a far faster recovery. (source iPipeline)

  • 16% growth in protection sales when the industry growth is close to zero.
  • 27% of all protection is now income protection. 82% increase in 12 months.
  • Average premiums increased to £60 pm.
  • 60% of sales multi benefit addressing many more customer needs.
  • 75%+ of all our critical illness is sold on an enhanced basis giving customers better cover.
  • Protection specialists up from 65 to over 90.

Other highlights

Covid-19 Customer Care Team set up to handle outbound helpline calls to existing clients and support lead supply with 18,000+ leads generated.

Launched MAB Later Life Lending through an exclusive strategic partnership with Key Group, with 30+ specialist advisers already authorised.

New senior roles added with a Chief commercial officer and Head of partnerships.

Investment made in 2 new build firms and a JV announced with Australia’s biggest Mortgage Aggregator.

Launched referral partnerships with Moneyfacts and Blue Light Card supporting key workers.