The specific size of the investment has not been disclosed, but Mortgage 1st – which is an appointed representative of Stonebridge – said the funding came from a private individual.
The firm said it planned to triple its headcount over the next five years, from around 48 advisers currently to 120-150 advisers.
Mortgage 1st added that there would also be recruitment to support and manage teams across the business, pointing to the recent hire of a marketing and communications manager and a lender relationship manager.
The company continued on to say that boosting its adviser headcount was only one part of its strategy and that it would focus on enhanced lead generation to meet demand of increased adviser numbers. It said it would implement artificial intelligence (AI) and other technology to improve lead conversion and streamline the mortgage completion process.
Mortgage 1st added that it planned to expand further into specialist areas like bridging, commercial, equity release and workplace benefits, and that this would be done in-house.
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Last year, the firm brought out a specialist lending arm, and in an interview with this publication at the time, it said brokers will need to have a specialist lending string to their bow through referrals or upskilling.
Mortgage 1st added that it was also looking to explore further M&A opportunities, following the acquisition of Peak Mortgages in 2023.
Specifically, it will be looking at brokerage owners with two or more advisers that feel they may “have hit a growth ceiling but are still ambitious to scale”.
The company added that it would be offering “tailored exit solutions” for business owners planning to retire or step away from the mortgage industry in the coming years.
These arrangements will allow them to continue earning from their client bank post-exit, the firm said.
Jon Stones (pictured, left), managing director of Mortgage 1st, said: “This is a truly exciting time for Mortgage 1st. The scale of our growth plans reflects the confidence we have in our team, our model, and the future of the mortgage market. With the investment now in place, we’re ready to accelerate – expanding our adviser base, embracing new technology, and creating even more opportunities for talented individuals and ambitious firms to grow with us. I’m incredibly excited about what lies ahead.”
Dave Corbett, head of recruitment at Mortgage 1st, added: “We are in constant discussions with some fantastic multi-adviser businesses, often with years of hard work and quality advice under their belts. A common theme we often hear is that they feel they have reached some kind of ceiling in terms of future growth, and are struggling to push on, unsure of where to focus resource.
“Having been through this ourselves, we feel we can really add value here to guide these businesses in the areas they need, whether that be leads for their advisers, admin support, training and development, additional earning opportunities through our specialist advisory brands or just simply being part of a bigger team and having others to lean on.
“Likewise, we feel we can offer a lot to those who aren’t on the radar of traditional consolidators but wish to exit and would love to speak to any firm principals interested in a confidential chat.”
