Based in Cannock, NHMS is the largest appointed representative mortgage and protection firm in the Sesame Bankhall Group (SBG) network, with 40-advisers and 80 employees, and has been a member for almost 30 years. NHMS turns over £760m of mortgage lending and £1.4m of protection premiums annually.

The deal allows SBG the option to increase its shareholding in the brokerage in the future.

While SBG chief executive Richard Harrison will join the NHMS Board, the management team will remain unchanged, as will the roles and responsibilities of employees.

This is the first advice firm investment since SBG launched its new business growth strategy under Harrison earlier this year.

Harrison says: “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.”

NHMS managing director Stewart Bartle says: “We have ambitious plans to grow the business, and 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.”