Shawbrook secures deal to acquire Bluestone Mortgages Limited

Shawbrook Group has signed an agreement to acquire Bluestone Mortgages Limited, a specialist mortgage lender focused primarily on owner-occupied mortgages.
By Greg Wright
Published 20th Mar 2023, 09:07 BST

BML, part of the Bluestone Group, was established in 2014 and has secured a “notable share” of the UK specialist mortgage market, according to Shawbrook. In a statement, Shawbrook said: Since first establishing a platform lending arrangement in 2017, Shawbrook has maintained a successful relationship with BML.

“The two organisations also share an approach to providing specialist finance at scale, which combines technology and data with the expertise and judgement of their people. Subject to satisfaction of the conditions precedent to the acquisition, completion is expected to take place in Q2 (the second quarter) of 2023.

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Marcelino Castrillo, the group's chief executive officer commented:

Shawbrook has signed a deal to acquire Bluestone Mortgages LimitedShawbrook has signed a deal to acquire Bluestone Mortgages Limited
Shawbrook has signed a deal to acquire Bluestone Mortgages Limited

"We are delighted to have strengthened our long-standing and successful partnership with Bluestone Mortgages through this acquisition. Bluestone Mortgages is a well-established brand in the UK specialist residential mortgage market, and by bringing the two organisations together, we can use our combined capabilities and scale to offer an even stronger proposition to UK homeowners.

Steve Seal, Bluestone Mortgages' Chief Executive Officer, said

"This transaction is great news for Bluestone Mortgages, our intermediary partners and our customers.”