Better Home & Finance Holding Company (NASDAQ: BETR, BETRW) announced that a buyer consortium has placed £10 million into escrow as part of a proposed sale of its wholly owned subsidiary, Birmingham Bank Limited.

Better will sell 100% of its interests in Birmingham Bank at 0.95x the subsidiary's Tangible Net Asset Value as of the closing date. As of September 30, 2026, Birmingham Bank's Tangible Net Asset Value was approximately £56 million, or roughly $74 million. The transaction remains subject to regulatory approval, definitive documentation, and customary closing conditions.

The buyer is B Singh Partners, a UK-based investment vehicle backed by three Asian family offices. Better's CFO Loveen Advani stated that upon completion of the sale, the company's cash balance is expected to reach approximately $140 million on a pro-forma basis as of September 30, 2026.

Birmingham Bank is currently classified as held for sale and reported as discontinued operations in Better's financial statements. Orrick, Herrington & Sutcliffe LLP is serving as legal counsel to Better, and FT Partners is acting as exclusive financial advisor.