Stonebridge and HLP among fastest-growing mortgage networks as sector consolidation continues

08 October 2026

Two of the UK's larger mortgage networks that could soon sit within the same wider group are among the strongest performers for firm growth during 2026, according to the latest Network Consulting Mortgage Network League Table.

Stonebridge Mortgage Solutions has recorded a net increase of 43 appointed representative firms during 2026, while HL Partnership has grown by a net 34 firms, according to Network Consulting's analysis of FCA Register data.

BetterHome Group, which already owns HL Partnership, has agreed to acquire Mortgage Support Services, the parent of Stonebridge, subject to regulatory approval.

If completed, the transaction would bring together two networks that have both demonstrated significant growth during the year.

Network Consulting's Q3 analysis also shows ValidPath increasing by a net 63 firms, although its proposition is predominantly wealth-focused.

Looking specifically at the third quarter, The Right Mortgage, New Leaf Distribution and TMG Direct were among the networks demonstrating positive momentum.

Significant movement in both directions

The figures also highlight contraction elsewhere in the sector.

St. James's Place, Primis, Openwork, Connect and Dragon have all recorded material net reductions in AR firm numbers during 2026.

However, Network Consulting cautions against interpreting changes in firm numbers as a simple measure of network performance.

Paul Day, Director of Network Consulting, said:

“There is a considerable amount happening within the network market at the moment, and movements in firm numbers provide an interesting indication of where some of that change is taking place.

“The growth at Stonebridge and HL Partnership is particularly noteworthy given the proposed ownership structure, but I don't think these tables should ever be interpreted simply as a ranking of which networks are performing best.

“There can be very credible reasons for a network reducing in size, including consolidation, strategic change or the removal of inactive firms. Equally, rapid growth creates challenges of its own around infrastructure, compliance resources and service levels.”

New propositions emerging

The headline figures also don't necessarily capture all of the structural changes taking place behind individual networks.

Flexi Network has emerged under the wider Beneficial Group ownership, while Beneficial itself has reduced in size during 2026. Equally, there are new start up networks and many smaller networks growing, getting ever closer to 20 AR firms. At which point they will appear on the network tables.

Mortgage Intelligence is another business undergoing change following its acquisition by OneDome.

Day said:

“What we're increasingly seeing is change not only in who owns networks, but also in what those businesses are trying to provide.

“Technology, business development, marketing, succession support and even access to capital are becoming increasingly important parts of the proposition. That makes understanding what sits behind the headline network charge and firm numbers more important than ever.”

Technology investment continues across the sector, with Openwork's selection of Seccl and Plannr as part of its technology transformation providing one recent example.

Day added:

“Ultimately, firm numbers measure movement, not quality. The largest or fastest-growing network isn't automatically the right network for an adviser or firm.

“The proposition, culture, costs, technology, support and longer-term direction of the business all need to be considered.”

Network Consulting's league tables are compiled using information published on the FCA Register and track AR firm and adviser numbers across many of the UK's larger adviser networks.