Bluestone Mortgages

What Bluestone Mortgages does

Bluestone Mortgages Limited is a UK specialist residential mortgage lender focused on borrowers who fall outside the automated underwriting criteria of high-street banks. Its primary segments are complex credit customers (defaults, CCJs, arrears, IVAs, bankruptcies, DMPs), self-employed individuals and contractors with non-standard income documentation, first-time buyers with impaired credit history, remortgagors seeking debt consolidation or capital raising, and Right to Buy purchasers. Underwriting is criteria-based rather than credit-scored: Bluestone applies no monetary limit on CCJs or defaults, ignores defaults and CCJs under £500, accepts active IVAs and DMPs, and assesses credit at completion rather than at application. The company is authorised and regulated by the Financial Conduct Authority and is a wholly owned subsidiary of Shawbrook Bank Limited following the June 2023 acquisition by Shawbrook Group from Bluestone Group. Day-to-day operations are led by CEO Steve Seal, and the business continues to trade under the Bluestone brand.

Bluestone distributes exclusively through FCA-authorised mortgage intermediaries, supported by a team of seven regional Business Development Managers and the BlueLink broker portal. Origination is processed on the BlueSky loan origination platform and serviced on the Boss platform, both developed by sister company Fignum Ltd. Since 2014, Bluestone has originated over £1.8bn of residential mortgages and currently manages a residential loan book in excess of £1.3bn. Product features include no application fees across the range, fees-free options with free valuation and £500 legal contributions, LTVs up to 90-95%, and access to the Deposit Unlock scheme for first-time buyers.

The revenue model is spread-based: net interest income on the performing loan book (anchored by a Bluestone Variable Rate of 5.50%) supplemented by origination fees, arrangement fees and early repayment charges on a steady flow of broker-submitted cases. Operational efficiency is supported by Open Banking-driven affordability capture, automated Experian credit decisions within the portal, and fraud screening through the Cifas National Fraud Database. The company is headquartered in London with former operational presence in Brentwood via the Shawbrook group infrastructure.

Name

Bluestone Mortgages

Legal name

Bluestone Mortgages Limited

Website

https://bluestonemortgages.co.uk

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Specialist Residential Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Wholesale Mortgage Lending (Broker Channel) (FSALACAA)

akta.pro secondary industry

Non-Agency (Jumbo/Non-QM) Mortgage Servicing (FSALAEAB)

Keywords

• Specialist mortgage lending
• Complex credit mortgages
• Adverse credit lending
• Residential mortgage origination
• Self-employed mortgages

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Mortgage Interest Income: Bluestone Mortgages originates and services residential mortgage loans, generating revenue primarily through interest charged on mortgage balances. As a specialist lender serving complex credit customers, the company originates mortgages up to 90-95% LTV and services the ongoing loan book. Revenue is generated through the spread between mortgage interest rates (including the Bluestone Variable Rate of 5.50%) and funding costs. The company has originated over £1.8bn since launch and currently manages a residential loan book of over £1.3bn.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Bluestone Mortgages is a UK specialist residential mortgage lender offering complex credit, self-employed, contractor, and adverse-credit mortgages distributed exclusively through FCA-authorised mortgage intermediaries. Products include First-Time Buyer, New Home, Remortgage, Right to Buy, Shared Ownership, Product Transfer, and high-LTV (up to 90-95%) options. The lending operation is supported by the proprietary BlueSky origination platform and BlueLink broker portal, with Open Banking and Experian integration.

Product overview

Bluestone Mortgages is a specialist UK mortgage lender focused on complex credit customers who are declined by high street banks. The company operates through a broker-only distribution model and offers a portfolio of residential mortgage products including First-Time Buyer, New Home Purchase, Remortgage, and Right to Buy products. The core lending platform is supported by the BlueLink Broker Portal for application processing and BlueSky loan origination platform (developed by Fignum Ltd) for automated processing. Additional services include Product Transfer options for existing customers, an Affordability Calculator for brokers, and scheme participation such as Deposit Unlock and Shared Ownership. The company is authorized and regulated by the FCA and operates as a wholly owned subsidiary of Shawbrook Bank Limited.

Differentiator

Problem solved

Functional benefit

Products and services

• First-Time Buyer Mortgages Mortgage products designed for customers buying their first home, with flexible criteria accepting CCJs, arrears, defaults, and gifted deposits. Specifically designed for those who face challenges with high street banks due to past financial difficulties.
• New Home Mortgages Mortgage products for customers purchasing a new home, including support for those who have faced difficulties borrowing in the past.
• Remortgage Products Solutions for customers looking to move their mortgage, consolidate debts, or make home improvements. Accepts debt management plans and includes legal support. Debt consolidation available up to 90% LTV with no LTV restriction for debt consolidation purposes.
• Right to Buy Mortgages Mortgage products available for council tenants purchasing their homes under the Right to Buy scheme. Can lend 100% of discounted purchase price, up to a maximum of 75% of open market value.
• Product Transfer Existing customer product transfer option allowing customers to switch from their current fixed-rate or standard variable rate mortgage to a new deal without product fees. Available for customers on fixed-rate deals ending or currently on SVR.
• Shared Ownership Mortgages Shared ownership mortgage products allowing customers to purchase a share of a property and pay rent on the remaining share.
• 95% LTV Mortgage via Deposit Unlock Scheme 95% LTV mortgages offered through the Deposit Unlock scheme in partnership with housebuilders, enabling first-time buyers (including those with impaired credit, defaults, or CCJs) to access higher-LTV borrowing on new-build properties.
• 90% LTV Mortgage Products Specialist mortgages available up to 90% Loan-to-Value, expanding borrowing capacity for customers with complex credit histories.

Quantifiable outcome

• Originated over £1.8bn in mortgages since 2014 launch
• +3 more outcomes

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Fignum LtdcoreTechnology or IntegrationFignum Ltd is a technology company established by Bluestone Group in 2019, headquartered near Cambridge. It developed the BlueSky loan origination platform and BlueLink broker portal for Bluestone Mortgages. Fignum's Boss servicing product supports Bluestone's ongoing loan management. The technology has processed over £3bn in loan applications. Following Shawbrook's acquisition of Bluestone Mortgages, Fignum continues to provide technology services while Bluestone Group retains its Fignum technology business.
• Unbiased.co.ukminorChannel Partner/ Reseller/ DistributorIndependent mortgage adviser referral platform. Bluestone directs prospective customers who need a broker to find advisers through unbiased.co.uk.
• PayplanminorOthersUK leading free debt advice provider referenced as a support partner for customers experiencing financial difficulties.
• StepChangeminorOthersFree, confidential debt advice charity referenced as a support partner for customers experiencing financial difficulties.
• The Money Advice ServiceminorOthersGovernment-backed money guidance service referenced as a support partner for customers experiencing financial difficulties.
• Citizens AdviceminorOthersFree debt advice organization referenced as a support partner for customers experiencing financial difficulties.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Metro Bank: UK high-street challenger bank offering residential mortgages including some specialist products. Competes for adjacent customer cohorts but operates a much broader retail banking model rather than specialist-only criteria.
• Aldermore Bank: UK challenger bank with a specialist mortgage proposition alongside broader savings and commercial lending. Competes in the complex-credit segment as part of a wider product portfolio, but does not focus exclusively on specialist criteria.

Emerging players

• Habito: UK digital mortgage broker and lender using technology to serve customers including those underserved by high-street lenders. Partial overlap with Bluestone's customer profile but a fundamentally different (broker-led, not balance-sheet) model.
• Gen H: UK tech-enabled specialist mortgage lender focused on first-time buyers and complex-credit segments, distributing via brokers. Emerging competitor with overlapping customer cohorts and a modern technology-led origination platform.

Direct peers

• Precise Mortgages: Specialist UK residential mortgage lender serving self-employed, near-prime and complex-credit borrowers through the broker channel. Highly comparable in target customer, product structure and intermediary distribution model.
• Pepper Money (UK): UK specialist mortgage lender serving near-prime and complex-credit customers through brokers. Direct head-to-head competitor with overlapping product set (adverse credit, self-employed, FTB) and similar criteria-led underwriting philosophy.
• Foundation Home Loans: UK specialist buy-to-let and residential mortgage lender focused on complex-credit and non-standard borrowers, distributed exclusively via intermediaries. Direct competitor for broker-originated complex-credit volumes.
• Together Money: UK specialist lender offering residential mortgages to self-employed and adverse-credit borrowers, distributed via intermediaries. Comparable specialist positioning and customer cohorts, with shared exposure to complex-credit underwriting risk.
• Kensington Mortgages: UK specialist residential mortgage lender focused on self-employed, contractor and complex-credit borrowers via the intermediary channel. Closely comparable business model, customer profile and distribution approach to Bluestone.
• The Mortgage Lender: UK specialist mortgage lender serving self-employed and adverse-credit borrowers via brokers; a fellow wholly-owned subsidiary of Shawbrook Bank, making it Bluestone's closest group-level peer and natural comparison point.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BluestoneMortg
• Facebookfacebook.com/Bluestone-Mortgages
• LinkedInlinkedin.com/company/bluestonemortgages

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bluestone Mortgages