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Bluestone Mortgages is a specialist lender that helps people who've been turned down by high street banks, including those with adverse credit, defaults, or complex financial circumstances. Here's an independent look at their products, eligibility, and how to apply through a broker.
Bluestone Mortgages is a specialist lender, part of the Shawbrook Group, that considers borrowers many high-street banks decline, including people with adverse credit, self-employed income, or complex financial circumstances.
Overall, Bluestone is a strong option if your circumstances are complex, but it's worth comparing against other specialist lenders before deciding.
Bluestone Mortgages is a specialist lender that helps people who've been turned down by high street banks get on the property ladder. It focuses on supporting borrowers who don't fit the traditional profile of high street lenders, such as those with adverse credit, defaults, or complex financial backgrounds.
Bluestone Mortgages is part of the Shawbrook Group, a UK specialist bank. It was originally founded in Australia in 2000, expanded to the UK in 2009, and has since become one of the country's best-known specialist mortgage lenders. Shawbrook Bank acquired Bluestone in 2023, giving the lender access to greater resources and a broker portal designed to speed up applications.
Unlike high street banks that rely heavily on automated credit scoring, Bluestone takes a different approach. Every application is manually assessed by a human underwriter who considers your individual circumstances rather than just looking at your credit score. This matters because life isn't always straightforward - redundancy, divorce, illness, and other events can affect your finances temporarily. Bluestone's underwriters look at your current affordability rather than focusing only on past difficulties.
Our verdict: Bluestone Mortgages is a solid choice if you have adverse credit history, complex income, or have been declined elsewhere. Its human underwriting approach means your application gets assessed on its individual merits, not just a credit score. That said, its rates are higher than high street lenders, and you can't apply directly - you'll need a mortgage broker.
Best for: people who don't fit the traditional profile of high street banks, including those with credit issues, self-employed borrowers, and anyone who doesn't fit standard lending criteria.
Bluestone has continued to specialise in residential mortgage origination and portfolio servicing since its acquisition by Shawbrook, supporting customers with complex financial situations.
Bluestone's human underwriting can work in your favour if you've had a genuine life event - redundancy, illness, or divorce - that temporarily affected your finances. Make sure your broker explains the context clearly in your application rather than leaving the underwriter to guess.
Bluestone offers a range of residential mortgage products designed for people who don't fit mainstream lending criteria. Products are categorised by credit history and borrower type, with updated criteria for people with past defaults or bankruptcies.
If you're buying your first home but have credit issues or complex income, Bluestone's first-time buyer products could help. Key features include:
Moving to a new property with adverse credit can be difficult with mainstream lenders. Bluestone's home mover products offer:
Remortgaging to Bluestone can help if your credit has suffered since your current mortgage started, or if you want to release equity. Benefits include:
For council tenants buying their home at a discount, Bluestone offers:
This scheme helps first-time buyers purchase new build homes with just a 5% deposit:
Bluestone participates in the Help to Buy scheme for new build properties, offering:
Note: Bluestone no longer offers buy to let mortgages, having withdrawn this product in 2023. If you're a landlord, you'll need to look at other specialist lenders, such as Pepper Money or The Mortgage Lender (also part of the Shawbrook Group).
Product fit
An advisor can talk through your credit history and income to see whether Bluestone, or another specialist lender, is the better fit.
Bluestone categorises applicants into five credit tiers based on their credit history. The tier you fall into determines which products you can access and the rate level you're likely to be offered.
Bluestone is notably flexible with credit issues.
Up to 4 missed mortgage payments from 13-24 months ago may be accepted, assessed based on context and explanation.
One current payday loan may be accepted, provided there are no active payday loans within 12 months of the decision in principle.
The key point is that Bluestone looks at your overall picture, not just individual black marks. If you can demonstrate affordability and explain your circumstances, your application will still be considered.
If you're worried about debt or credit issues, you can get free, impartial guidance from MoneyHelper at moneyhelper.org.uk or by calling 0800 138 7777.
Bluestone looks at your whole financial picture rather than a single black mark. If you can show that your finances have stabilised since a default or court judgment, it's often worth applying even if you've been declined elsewhere.
As a specialist lender, Bluestone's rates are generally higher than high street banks. This reflects the additional risk it takes on by lending to people mainstream lenders decline. Rates vary depending on:
Because rates change frequently, it's best to speak to a mortgage advisor for current figures rather than rely on published examples.
If you add the arrangement fee to your loan, you'll pay interest on it too, increasing the total cost of your mortgage. It's worth considering paying fees upfront if you can afford to.
Bluestone allows overpayments of up to 10% of your mortgage balance each year without penalty. If you want to repay more, or exit your mortgage before the end of your fixed rate, early repayment charges will usually apply. These typically decrease over time, so check your product terms for the exact details.
Bluestone doesn't charge an application fee, but your broker might. Ask about their fees upfront - they typically range from £0 to £999, depending on the broker and the complexity of your case.
Adding your arrangement fee to the loan can feel convenient, but you'll pay interest on it for the life of the deal. If you can afford to pay it upfront, it's usually the cheaper option over the long run.
We're not a lender - we connect you with brokers who work with Bluestone and other specialist lenders
Bluestone Mortgages has strong customer feedback, with a high Trustpilot rating from thousands of reviews. Reviewers frequently mention feeling listened to and understood, especially in more complex cases.
"After being turned down by my bank, I was worried about getting a mortgage with my credit history. Bluestone spent time understanding my situation and found a way to help. The rate wasn't the lowest, but they were upfront about all the fees. Professional service throughout." - Customer review, October 2025
"Spent Christmas in my new home, all thanks to Bluestone. From application to offer in a week, their process was simple, straightforward and professional." - Customer review, November 2025
"Communication took a long time, with each interaction taking around 4 working days to get a response. We were often asked for the same information repeatedly." - Customer review, 2025
Like any specialist lender, Bluestone has strengths and limitations. Here's a balanced look at both.
Advantages
Disadvantages
Higher rates than high street lenders
As a specialist lender, Bluestone's rates reflect the additional risk of lending to people mainstream banks decline.
Broker-only access
You can't apply directly to Bluestone - you'll need to go through a mortgage broker, which adds an extra step to the process.
Processing times can vary
Straightforward cases can complete within days, but complex cases have taken 6 weeks or longer for some customers.
Document requests can be repetitive
Some reviewers mention being asked for the same information more than once during the application.
No buy-to-let mortgages
Bluestone withdrew its buy-to-let range in 2023, so landlords will need to look elsewhere.
Bluestone operates in the specialist mortgage market alongside several other lenders, primarily competing with other providers focused on adverse credit and complex cases. Here's how it stacks up against some of its closest competitors.
According to broker surveys on lender preference, Pepper Money and Bluestone are consistently named among the top choices for heavy adverse credit cases, such as secured arrears, IVAs, and debt management plans. For lighter adverse credit issues, such as utility or phone bill defaults, brokers tend to favour high street lenders and other specialist providers first.
Bluestone sits firmly in the heavy adverse credit specialist segment, competing primarily with Pepper Money and Together.
Bluestone Mortgages aims to be a responsible lender, assessing each application on its individual circumstances through a manual, holistic underwriting approach. Before applying, it's worth understanding a few important factors.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
This isn't just standard wording - it's a genuine risk. Secured lending means the lender holds a legal charge on your property. If you fall behind on payments and can't catch up, repossession is a real possibility.
Before proceeding, it's worth honestly assessing:
Specialist lenders charge higher rates because they accept higher-risk borrowers. Even a small difference in rate can add up to a significant amount over a 25 or 30-year mortgage term, so it's worth speaking to an advisor about the realistic cost of your options before committing.
That said, for many people the higher rate is a temporary step. Many Bluestone customers plan to remortgage to a mainstream lender once their credit history has improved.
If you're using Bluestone as a stepping stone to better rates in future, it helps to understand the timeline:
If you're worried about keeping up with mortgage payments, don't wait until you miss one. Contact your lender or broker as early as possible, and get free, independent guidance from MoneyHelper at moneyhelper.org.uk or by calling 0800 138 7777.
People with past credit issues - if you have defaults, court judgments, or a history of debt or insolvency from more than 12 months ago, Bluestone's human underwriting means your circumstances are properly considered.
Self-employed borrowers - Bluestone accepts one year's accounts, where some lenders ask for two or three, and is flexible with contractors, freelancers, and limited company directors.
Complex income situations - if you have multiple income sources, or bonus and commission income that's hard to prove, Bluestone's manual assessment can help.
Recent life events - divorce, redundancy, or illness can temporarily affect your finances. Bluestone looks at your current situation rather than penalising you for the past.
First-time buyers declined elsewhere - if mainstream lenders have turned you down, Bluestone's specialist criteria might offer a path to homeownership.
Skilled overseas workers - Bluestone considers non-UK nationals on Skilled Worker or Health and Care Worker visas, with at least 12 months' UK residency, a minimum income of £50,000, and 6 or more months remaining on their visa.
Since Bluestone only accepts applications through a broker, here's how to get started.
Look for a broker who:
You can use comparison sites, ask for recommendations, or contact us at Money Saving Advisors - we connect people with specialist mortgage brokers who work with Bluestone and other specialist lenders.
Gathering these documents in advance can help speed up your application.
Why use our service?
Why use a broker
How it works
Initial assessment
Your broker reviews your circumstances to work out which credit tier you're likely to fall into, what loan-to-value is achievable, and whether Bluestone or another lender is the better fit.
Decision in principle
Your broker submits your basic details for an initial decision. This is a soft search that won't affect your credit score, and you'll usually get a response within 24-48 hours.
Document review
Bluestone's case managers review your uploaded documents and prepare everything for underwriting. If anything's missing, they'll request it through your broker.
Underwriting assessment
A human underwriter reviews your case individually and may ask additional questions about your circumstances.
Valuation
Once the underwriter is satisfied, Bluestone instructs a valuation of the property. For remortgages, this is often free.
Mortgage offer
If everything checks out, you'll receive a formal mortgage offer, typically valid for 6 months.
Completion
Your solicitor handles the legal work to complete the mortgage. Funds are released to your solicitor's account, and your repayments begin from your designated account.
Common questions
Yes. Bluestone Mortgages Limited is authorised and regulated by the Financial Conduct Authority. It's a wholly owned subsidiary of Shawbrook Bank Limited, an established UK specialist bank. The company has operated in the UK since 2009 and is registered with Companies House.
No. Bluestone is an intermediary-only lender, which means you have to apply through a mortgage broker. This is common among specialist lenders and can benefit you by providing expert guidance through the process.
Bluestone uses Experian to verify information about your credit history, but it doesn't use traditional credit scoring to make decisions. Each application is manually assessed based on your individual circumstances. The initial decision in principle is a soft search that doesn't affect your credit score. A full credit check only happens once you proceed with a formal application.
Bluestone doesn't use credit scores to make decisions. Instead, it categorises applicants into credit tiers (Clear to BBB) based on factors like defaults, court judgments, and insolvency history. Even with a low credit score, you may qualify if you meet the other criteria.
Processing times vary based on how complex your case is. Straightforward applications can reach an offer within days, while more complex cases typically take 2-4 weeks. Some particularly challenging cases can take 6 weeks or longer.
Yes. Bluestone accepts self-employed applicants with as little as one year's accounts, and considers sole traders, contractors, freelancers, and limited company directors. Income is usually assessed using SA302 tax calculations, accountant's certificates, or company accounts.
Yes, this is Bluestone's specialism. It accepts applications with up to 4 defaults in the last 36 months, up to 3 court judgments in the last 36 months, discharged insolvency (minimum 12 months), debt management plans and Individual Voluntary Arrangements, and missed mortgage payments from 13-24 months ago.
Bluestone's maximum loan is £500,000, and the minimum is £50,000. The actual amount you can borrow depends on your income, existing debts, credit tier, and the value of the property.
Yes. Bluestone offers fee-free remortgage products with no arrangement fee, a free standard valuation, and free basic legal work, or a £500 contribution towards solicitor costs. These products typically come with a higher rate than fee-paying alternatives, so it's worth asking an advisor which option works out cheaper overall.
Yes. Bluestone accepts remortgage applications, whether you're switching from another lender or moving from an existing Bluestone product. Remortgage benefits can include free valuations, free or subsidised legal fees, and options for capital raising.
When your fixed rate ends, you can switch to a new Bluestone product (a product transfer), remortgage to another lender, or move onto Bluestone's standard variable rate. Product transfers have specific requirements, including applying within 90 days of your fixed rate ending and having no missed payments in the last 12 months.
Bluestone can be a good option for first-time buyers who've been declined elsewhere because of credit issues or complex income. Its Deposit Unlock scheme allows purchases with just a 5% deposit on new build homes. If you have a clean credit history, though, you'll likely find better rates with a mainstream lender.
No. Bluestone doesn't offer guarantor mortgages. It does, however, accept gifted deposits from family members, which can help if you're struggling to save a deposit.
Bluestone accepts most standard residential properties in England and Wales. Maximum property values are £600,000 in England and £300,000 in Wales, and some property types may have restrictions, so it's worth checking with your broker about your specific property.
What our clients say
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