Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Mortgage Network Data Reveals Market Shifts and Leadership Changes
Q2 2026 data from Network Consulting highlights continued movement in the UK mortgage network sector, with adviser firms switching networks, differing growth rates among major players, and a series of significant leadership changes. The figures show both expansion and contraction across networks, as well as transitions in senior management.
Stonebridge Mortgage Solutions reported strong growth, with 63 firms joining and 34 leaving so far this year, resulting in a net gain of 29 firms. HL Partnership (HLP) also expanded, adding 49 new firms and losing 23, for a net growth of 26. ValidPath, primarily wealth-focused, recorded the highest numerical growth, adding 46 firms and losing six, for a net increase of 40. Sesame, New Leaf Distribution, and Ingard Financial also saw positive momentum, with Ingard posting a 28.8% increase in firms.
Among the largest networks by appointed representative (AR) numbers, the picture is mixed. Primis remains the UK’s largest dedicated mortgage network with 1,018 AR firms, despite a net reduction of 33 firms so far this year, representing 3.2% of its total AR base. Its parent division, LSL Financial Services, is undergoing a leadership transition, with group managing director Richard Howells stepping down and Piotr Nowosad appointed on an interim basis.
Leadership changes are also underway at HLP, which has maintained positive AR growth in 2026. Chris Tanner will step back from day-to-day leadership after nearly two decades, with Rudi Botha, chief executive of BetterHome Group, expected to succeed him following BetterHome’s strategic investment in HLP in 2024, subject to FCA approval. Tanner will remain as a board adviser during the transition.
The data also highlights that AR firm numbers alone do not fully reflect network scale. For example, Mortgage Advice Bureau has around 200 AR firms but nearly 2,000 retail mortgage advisers, according to FCA data. The firm’s latest trading update reported growth in adviser numbers and a 16% increase in mortgage completions in the first half of 2026.
Network Consulting noted that its Q1 figures for Quilter included duplicated leaver records due to multiple brands and businesses, but the Q2 figures have been corrected and individually verified.
These developments are relevant for UK letting agents and inventory clerks monitoring changes in the mortgage sector, as network shifts and leadership transitions may impact adviser relationships and service delivery.
Source: Mortgage Strategy