Sesame Bankhall Group has acquired a strategic stake in New Homes Mortgage Services, one of the UK’s largest mortgage brokers.
NHMS is the largest appointed representative mortgage and protection firm in SBG’s Sesame Network, of which it has been a member for almost 30 years.
The deal sees SBG acquire a “significant” stake in the 40-adviser strong business, with the option to increase the shareholding in the future.
Based in Cannock, NHMS is a mortgage and protection advisory business specialising in the new build market.
It has 40 advisers and 80 employees and looks after the needs of 45,000 clients, with over £760mn of mortgage lending and £1.4mn of protection premiums annually.
SBG CEO, Richard Harrison, said: “The investment in NHMS is a significant step in our journey and a clear indication of our ambitious business strategy and commitment to grow our adviser network and the wider group, through both organic growth and investment in like-minded adviser businesses.
“Our focus remains on supporting advisory firms to grow and run their businesses, partnering with and investing in those who share our passion to deliver the very best outcomes for customers.
“Through our existing network relationship, it’s clear that in Stewart and the team at NHMS we have that partner, and we look forward to helping them further thrive and innovate, driving real value for their customers and their people.”
The acquisition represents the first advice firm investment since the group launched its new business growth strategy under CEO Richard Harrison earlier this year.
NHMS managing director, Stewart Bartle, added: “We have ambitious plans to grow the business, and this was a natural next step in our journey to enable us to do that.
“From day one, it was clear that Sesame Bankhall Group’s own adviser-led growth strategy and vision matched ours, making them the perfect partner to support our long-term aim to become the UK’s largest mortgage broker, helping more people to achieve their home ownership goals.”
The news follows the recent announcement of a new strategic partnership between SBG’s PMS Mortgage Club and Bankhall businesses and intermediary platform Acre to jointly invest and create bespoke technology solutions for the Directly Authorised adviser market.
tom.dunstan@ft.com
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