BetterHome has entered into an agreement to acquire Mortgage Support Services (MSS).
MSS is the parent company of Stonebridge and a range of mortgage, protection and technology businesses. The proposed transaction remains subject to Financial Conduct Authority change-in-control approval. BetterHome also invested in HLPartnership in 2024.
BetterHome said its investment represents a further step in its long-term commitment to the UK mortgage intermediary market, adding it is intended to support the next phase of growth for MSS and Stonebridge, building on the strength of their existing teams, member proposition and relationships across the industry.
BetterHome brings established expertise and capabilities that will complement the experience already within MSS and Stonebridge and provide additional resources to support continued investment in their people, technology, services and member proposition.
The group added it recognises the strengths and identities that have made Stonebridge and HLPartnership successful, and these will remain important as they move forward.
It stressed that it remains business as usual, with both continuing to operate as separate mortgage and protection networks, each with its own brand, proposition and culture.
Though it added that over time there may be opportunities to work more closely together where this makes sense and creates value, with any developments considered carefully and with people, members and customers at the heart of decisions.
Rudi Botha, group CEO of BetterHome, (pictured) 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.
Rob Clifford, a founding director of MSS, who remains chief executive of Stonebridge, added: “Having led MSS’ 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.”