Specialist lender Bluestone Mortgages has seen owner-occupied residential mortgage volumes almost double since its acquisition by Shawbrook earlier this year. The company reports an average 90% monthly increase in new business, marking a significant growth trajectory.
As the specialist mortgage market is anticipated to expand substantially over the long term, Bluestone Mortgages, backed by Shawbrook’s capital base and substantial presence in the deposits market, is well-positioned to cater to this burgeoning demand.
The growth aligns with the current economic climate, where an increasing number of customers no longer fit the mainstream lending profile, paving the way for specialist lending solutions.
Bluestone’s growth is particularly evident in supporting owner-occupied customers who fall outside traditional lending criteria. This includes individuals with complex and adverse credit, as well as self-employed professionals and contractors. Despite the rapid scaling of operations, the company has maintained high customer and broker satisfaction scores, thanks in part to significant investments in technology, processes, and personnel.
In a strategic move to concentrate on the owner-occupied market, Bluestone has announced its withdrawal from the buy-to-let market. The lender will no longer accept new buy-to-let applications after 11th August, although those already received will continue to be processed as usual.
Reece Beddall (pictured), sales & marketing director of Bluestone Mortgages, said: “With the current economic climate contributing to growth in the number of customers who no longer fit the mainstream lending profile, we are experiencing increased levels of demand.
“This is an exciting time for Bluestone, and we’re fully committed to and focused on doubling-down our efforts to help would-be and existing borrowers who rely on our approach to realise their home ownership goals.”
