Move is part of its growth strategy to support and expand its adviser network
Sesame Bankhall Group (SBG) has acquired a strategic stake in mortgage broker New Homes Mortgage Services (NHMS).
NHMS has been part of SBG’s Sesame Network for nearly 30 years, making it the network’s largest appointed representative (AR) firm for mortgage and protection services. The deal includes an option for SBG to increase its ownership in the future.
This marks SBG’s first investment in an advisory firm since launching its new growth strategy under chief executive Richard Harrison earlier this year. The acquisition, SBG said, is a key step in its plan to strengthen ties with advisory firms and position itself as a long-term partner, supporting firms through various stages of growth.
NHMS, based in Cannock, is a mortgage and protection advisory business focused on the new-build market. The firm has 40 advisers, 80 employees, and serves approximately 45,000 clients. It currently oversees over £760 million in mortgage lending and £1.4 million in annual protection premiums. While Harrison will join the NHMS board, the current management team and staff roles will remain unchanged.
“The investment in New Homes Mortgage Services is a significant step in our own journey and a clear indication of our ambitious business strategy and commitment to grow and develop our adviser network and the wider group, through both organic growth and investment in like-minded adviser businesses,” said Richard Harrison (pictured), chief executive of Sesame Bankhall Group.
“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.”
Stewart Bartle, managing director at New Homes Mortgage Services, commented: “We have ambitious plans to grow the business. 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.”
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