Shawbrook Group plc has announced the successful completion of its acquisition of specialist lender Bluestone Mortgages Limited (BML) from Bluestone Investment Holdings.
The deal brings together two leading names in the mortgage industry and positions the Group for future growth.
With a workforce of roughly 100 across offices in London and Sheffield, Bluestone Mortgages has originated over £1.9bn since its inception and currently manages a book of over £1.3bn residential loans.
Post-acquisition, Bluestone Mortgages will retain its branding and continue to operate under its current management team. However, it will now enjoy the financial backing of Shawbrook, positioning it to accelerate growth plans and serve an increasing number of customers outside the standard lending profile of mainstream lenders.
Steve Seal, CEO of Bluestone Mortgages, said: “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 strategic partner for many years, and now we are well positioned to offer an even stronger proposition to a growing number of customers,” Seal said.
Marcelino Castrillo, CEO of Shawbrook Group, added: “Bluestone Mortgages is a respected name in the UK mortgage market that fits exceptionally well into the Shawbrook family. We both provide specialist finance at scale, combining technology and data with the expertise of our people.
“This ‘best of both’ model is key to delivering a seamless digital experience with swift decision making and funding certainty. This acquisition will help us to deliver an even stronger proposition to homeowners across the UK,” said Castrillo.
