Completion of Bluestone Mortgages Ltd Acquisition

Shawbrook Group PLC

01 June 2023

 

Shawbrook Group plc - Completion of Acquisition - Bluestone Mortgages Limited

Further to the announcement on 20 March 2023, Shawbrook Group plc (the Group) is pleased to confirm that all the necessary regulatory approvals have now been received and the acquisition of Bluestone Mortgages Limited, a specialist mortgage lender focused on owner-occupied mortgages, has completed.

Marcelino Castrillo, the Group's Chief Executive Officer commented: "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." Steve Seal, Bluestone Mortgages' Chief Executive Officer, commented: "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."

For further information, please contact: Stephanie Mackrell Teneo [e-mail] For investor enquiries, please contact: Murray Long Head of Investor Relations [e-mail] About Shawbrook - Banking for the real world Shawbrook is designed to accommodate individuality, diversity and the dynamics of the modern world. We are driven by our purpose, to power up ingenuity to create opportunity, every single day. Leveraging strong digital capabilities to complement deep human expertise, our 'best of both' proposition is ideally placed to provide personalised finance solutions to those with immediate and often complex needs. We offer a diversified range of practical lending and savings products across three customer franchises to serve consumers, businesses and real estate professionals. Our advanced digital platform enables us to provide a differentiated proposition to an expanding customer base. Our multi-channel distribution and end-to-end digital capabilities are empowered by our expert talent and partnerships with a range of leading FinTech and data providers to deliver best-in-class customer experiences. The Group's lending activities are primarily funded by a stable retail deposit book consisting of easy access and ISA accounts, variable rate notice accounts and fixed rate fixed term accounts (mostly one - five years). Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.

 

END