Better Home & Finance Announces Progress Toward Sale of Birmingham Bank
Business Wire•05/10/2026•17:30 ET
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Key Highlights
- ➤Buyer consortium escrowed £10 million toward Birmingham Bank sale
- ➤Better to sell Birmingham Bank for 0.95x Tangible Net Asset Value
- ➤Birmingham Bank’s September 30, 2026 tangible net assets were approximately £56 million
- ➤Better’s pro-forma cash balance expected to reach approximately $140 million
- ➤Transaction remains subject to regulatory approval and definitive documentation
Expert Statements
Vishal Garg, Founder of Better
“Better 2.0 is happening. We are pleased to be making significant progress on this proposed transaction with B Singh Partners, a UK based investment vehicle, and with the backing of 3 Asian family offices who are household names and hold a combined net worth exceeding $20 billion”
Loveen Advani, CFO of Better
“Upon consummation of this proposed transaction, assuming cash balances and estimated net proceeds from the sale of Birmingham Bank, as of September 30, 2026, on a pro-forma basis, Better’s cash balance is expected to increase to approximately $140 million, providing the Company liquidity to both grow its business and to fund the path to positive cash flow”
Better Home & Finance Announces Progress Toward Sale of Birmingham Bank
Buyer consortium funds £10 million into escrow; upon regulatory approval, sale expected to strengthen Better’s liquidity to approximately $140 million on a pro-forma basis as of September 30, 2026
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