Shawbrook completes Bluestone Mortgages acquisition

Bluestone will continue to run as normal. It will trade under its existing brand name and be led by its current management team. 

The company said the deal will allow it to benefit from the “financial strength” of Shawbrook to expand its growth plans and lend to more borrowers who do not fit high street lender criteria. 

Since launching in 2014, Bluestone has originated over £1.9bn in loans and manages a residential book with a value of more than £1.3bn. 

‘A significant milestone’

Steve Seal, CEO of Bluestone Mortgages, said: “Today is a significant milestone as we embark on the next chapter of our growth journey. We have a proven track record of providing brokers with innovative lending solutions to meet their customers’ unique financial needs, particularly those who either choose to work for themselves or who have complex credit histories.  

“Shawbrook has been a long-standing strategic partner for many years and, combining our proposition with the additional capabilities and funding certainty the group can provide, we are now well positioned to offer an even stronger proposition to a growing number of customers.” 

Marcelino Castrillo, chief executive of Shawbrook, added: “Bluestone Mortgages is a respected name in the UK mortgage market and a brand that we know fits exceptionally well into the Shawbrook family given the successful relationship we have developed over the past six years. The two organisations share an approach to providing specialist finance at scale, which combines technology and data with the expertise and judgement of their people.  

“This ‘best of both’ model is key to delivering a seamless digital experience with swift decision making and certainty of funding. This acquisition will help us to deliver an even stronger proposition to homeowners across the UK.”