Mortgage network market sees continued AR movement in Q2 – Network Consulting
The latest figures show Stonebridge Mortgage Solutions remained one of the strongest-performing larger mortgage networks.
Mortgage networks continued to see significant adviser representative (AR) movement during the second quarter of 2026, with growth at several firms accompanied by senior leadership changes across the sector, according to Network Consulting.
The latest figures show Stonebridge Mortgage Solutions remained one of the strongest-performing larger mortgage networks, recording 63 firms joining during the year to date against 34 departures, resulting in a net gain of 29 firms.
HL Partnership (HLP) also reported growth, adding 49 firms while 23 left, producing a net increase of 26.
Among all networks, wealth-focused ValidPath recorded the largest numerical gain, with 46 firms joining and six leaving, resulting in a net increase of 40.
Sesame, New Leaf Distribution and Ingard Financial also posted positive growth, with Ingard increasing its AR firm numbers by 28.8%.
Primis remained the UK’s largest dedicated mortgage network with 1,018 appointed representative firms, despite recording a net reduction of 33 firms during the year to date, equivalent to a 3.2% fall.
The report also highlighted a number of senior leadership changes across the network market.
At LSL Financial Services, parent company of Primis, group managing director Richard Howells stepped down this month, with Piotr Nowosad appointed interim group managing director while a permanent successor is recruited.
Meanwhile, HLP recently announced that chief executive Chris Tanner will step back from day-to-day leadership after almost 20 years. BetterHome Group chief executive Rudi Botha is expected to succeed him, subject to FCA approval, following BetterHome’s strategic investment in HLP in 2024.
Tanner will remain with the business as a board adviser.
Network Consulting said adviser numbers should not be viewed in isolation.
It noted that Mortgage Advice Bureau has around 200 AR firms but almost 2,000 retail mortgage advisers according to Financial Conduct Autgority (FCA) data, with the firm recently reporting a 16% increase in mortgage completions during the first half of 2026.
The consultancy also said its Q1 figures for Quilter had since been revised after identifying duplicate leaver records caused by firms operating across multiple brands.
It said its verification process has since been refined, with the Q2 figures reflecting individually verified data.
Paul Day, founder and director of Network Consulting, said: “Overall, Q2 portrays a mortgage network market experiencing change on several fronts.
“DA and AR movement, leadership succession, investment and differing business models all provide important context beyond headline numbers, reinforcing why the direction, proposition and values of a network can be every bit as relevant as its size.”
Related
Stonebridge appoints Hannah Tee to adviser recruitment team
Mortgage rates rise in July as swaps increase – Moneyfacts
One in three advisers expect GI to be biggest growth area in coming year – Paymentshield
Beachfront homes command 410% house price premium, LandSale finds
Monmouthshire BS, PayItMonthly and Revolut record biggest customer satisfaction rises in July
Almost 29,000 landlord possession claims lodged over past year, LegalforLandlords finds
Money scams cost Britons £1.28bn a year – Unbiased
One in eight new-build homes unsold after six months – Octane Capital
97% believe young buyers will struggle to buy without family support, research reveals
Remortgage searches rise 7% in July – Twenty7tec
Holiday let reforms yet to boost Devon and Cornwall housing activity, study finds
