BetterHome Group acquires Mortgage Support Services Ltd

Transaction

Buy-side

Undisclosed

Rôle

Adviser to BetterHome Group on its acquisition of Mortgage Support Services Ltd

Secteur

Services financiers

Région

Royaume-Uni

We have advised BetterHome Group, South Africa's largest mortgage distributor and a leading participant in the country's property market, on its acquisition of Mortgage Support Services Ltd (MSS), an industry leader in providing technology-led financial services for the UK property market. The proposed transaction remains subject to Financial Conduct Authority change in control approval. Our combined team provided M&A and Debt Advisory support.

BetterHome Group accounts for approximately 35% of South Africa’s mortgage market and facilitates the sale of 20% of all properties in the country. It also operates across the home journey, with services spanning property search, mortgage advice, and insurance. In 2024, BetterHome Group invested in the UK mortgage market through Josewin, the parent of HLPartnership.

The investment will support the continued growth of MSS, the group behind Stonebridge Mortgage Solutions, with Stonebridge and HLPartnership continuing to operate as separate networks.

BetterHome Group brings established expertise and capabilities that will complement the experience already within MSS and Stonebridge, and provide additional resources to support continued investment in its people, technology, services, and member proposition.

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.
Rudi Botha, Group CEO, BetterHome Group

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.
Rob Clifford, Founding Director of Mortgage Support Services and Chief Executive of Stonebridge

This transaction brings together complementary expertise and a shared ambition to support growth across the property and mortgage market. BetterHome Group's investment demonstrates its commitment to the UK market and provides a strong platform for continued investment in technology, services, and people.
Greg Cant, Managing Director, Head of Financial Services

We were pleased to support BetterHome Group in securing debt financing for its acquisition of MSS. The financing provided by Investec, HSBC and OakNorth reflects the high quality of both businesses and gives further capacity to support the group's strategic ambitions in the UK.
Tom Barnwell, Managing Director, Debt Advisory