BetterHome Group has agreed to acquire Mortgage Support Services Ltd (MSS), bringing Stonebridge Mortgage Solutions into the same group as HLPartnership.
The proposed transaction remains subject to Financial Conduct Authority change in control approval.
MSS is the parent group behind Stonebridge Mortgage Solutions and a range of mortgage, protection and technology businesses.
BetterHome entered the UK intermediary market through its investment in Josewin, the parent company of HLPartnership, in 2024. The addition of MSS will significantly increase its presence in the sector.
NETWORKS TO REMAIN SEPARATE
BetterHome said Stonebridge and HLPartnership would continue to operate as separate mortgage and protection networks, retaining their respective brands, propositions and cultures.
It said the investment would provide additional resources for MSS and Stonebridge to continue investing in people, technology, services and its member proposition.
The group added that opportunities for greater collaboration between the businesses could be explored over time where they created value.
“We saw a strong alignment of values.”
Rudi Botha (main picture), Group CEO of BetterHome Group, said: “When BetterHome Group invested in Josewin, the parent of HLPartnership, in 2024, it was driven by our belief in the strength of the UK mortgage market and in the power of partnership.
“We saw a strong alignment of values and a shared ambition to support successful mortgage and protection businesses for the long term.
“The agreement to acquire MSS is the next step in that journey. MSS is a strong and well-respected business, with talented people, an established proposition and trusted relationships with its member firms and partners. We have great respect for what Rob Clifford and his colleagues have built and for the culture and commitment to members that make Stonebridge distinctive.
“Our ambition is to support MSS in the next phase of its growth, building on the strengths of the business and the strategy already in place. An important part of that is creating the right environment for member firms to grow their businesses and continue delivering for their customers.
CLIFFORD REMAINS AT HELM
Rob Clifford, a founding director of MSS, will remain chief executive of Stonebridge following the transaction.
Clifford led MSS’s acquisition of Stonebridge in 2015 and has served as its Chief Executive since 2019.
He said: “Having led MSS’s acquisition of Stonebridge in 2015 and been its Chief Executive since 2019, it was of great personal importance to me that we selected the very best partner for the next phase of our growth journey.
“In BetterHome, we have a new parent which has decades of experience in the mortgage sector, understands the importance of the relationships we have built with our member firms and partners, and fully supports our strategy.
“The BetterHome team recognised the strength of the MSS family of businesses and has bought into the strategy that has delivered our sector-leading growth. This is a great fit and a significant vote of confidence in the business.
“I’m excited about the future and greatly looking forward to continuing to lead the business as part of BetterHome Group.”
