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Shawbrook Bank to acquire Bluestone

ended 20. March 2023

Shawbrook Bank has agreed to acquire Bluestone Mortgages, it was announced this morning. Bluestone says: “The transaction will combine the scale and funding strength of Shawbrook with Bluestone’s innovative products and market-leading service to further accelerate our growth plans. The acquisition remains subject to regulatory approval, and we expect it to complete during Q2 2023.” Free PR platform, Newspage, asked brokers for their thoughts.



 

2 responses from the Newspage community

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Editor
Justin Moy
Managing Director at EHF Mortgages
Shawbrook has been the main funding partner for Bluestone for a number of years, so this is a very good acquisition for both sides. It looks like the Bluestone brand will stay for the time being, and Shawbrook will leverage some of the IT systems and processes that Shawbrook desperately needs for its own business. Specialist mortgage lending is a very profitable business area that will be a growth opportunity for many years to come. Increasing demand for flexible underwriting to help support business owners, complex incomes and credit-impaired borrowers will be welcomed by the market.
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Amit Patel
Adviser at Trinity Finance
Specialist lending will be the growth area in 2023 and beyond, and a very profitable sector to be in which is why we have seen some consolidation in the first few months of this year as lenders try to diversify their product offering to cater to this niche market. We may well see further announcements from other lenders as each lender jostles for a slice of the pie.