Better Home & Finance Advances Sale of Birmingham Bank

MT newswire2026/10/05 21:50

05:50 PM EDT, 10/05/2026 (MT Newswires) -- Better Home & Finance (BETR) is progressing toward the sale of its unit Birmingham Bank after the buyer consortium transferred 10 million pounds ($13.2 million) related to the deal, it said late Monday. Better will sell its interests in Birmingham Bank for 0.95 times the tangible net asset value as of the deal closing date. NAV stood at around $74 million as of Sept. 30, according to a statement. Upon deal completion, which remains subject to regulatory approval and customary closing conditions, Better's cash balance is expected to rise to $140 million, it said.

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