Shawbrook Group PLC Completion of Bluestone Mortgages Ltd Acquisition (2470B)

TIDMPH56

RNS Number : 2470B

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. 
 

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June 01, 2023 02:00 ET (06:00 GMT)