In This Article
Who are Bluestone Mortgages?
Bluestone Mortgages is a part of Bluestone Group, a fast-growing financial services and technology business founded in 2000. The Group operates specialist mortgages and motor finance businesses.
Bluestone Mortgages is a specialist mortgage lender that launched in 2015.
It supports mortgage brokers and their customers across the UK with a flexible approach that understands that one size does not fit all when it comes to a mortgage.
They are committed to offering residential and buy to let mortgage products to underserved customers who mainstream lenders have let down.
Bluestone believes that people should not be prevented from achieving their dreams of homeownership due to experiencing a life event.
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What do Bluestone Mortgages specialise in?
Bluestone’s products are designed to help customers who can demonstrate affordability, including self-employed workers, contractors / fixed term contractors, and those with buy to let properties or credit problems.
Bluestone only offers their mortgages via mortgage advisors. Therefore you will be unable to get a mortgage direct.
Residential Mortgages from Bluestone
Bluestone understands that a strong credit history is often necessary to be approved for a loan in today’s world. However, plenty of people out there with the financial means to make regular mortgage payments but don’t have a “perfect” credit score.
That’s why they offer residential mortgages specifically designed to help these individuals get the mortgages they need and deserve.
Bluestone Mortgages can offer customers a solution generally regardless of their credit history.
They benefit from no credit scoring when underwriting the application and can consider recent multiple defaults, county court judgements (CCJs), and even IVAs, bankruptcy and debt management plans (DMPs).
Do Bluestone Mortgages offer competitive rates?
Bluestone Mortgages could be considered if you’re looking for a mortgage and don’t fit the criteria of the high street banks.
Bluestone offers a range of products for those who do not fit the mould of the high street banks. Therefore, their pricing is generally higher.
However, as with any mortgage, it’s important to compare interest rates, fees charged and the quality of the lender’s service before making a decision.
Your credit score will also impact the interest rate. Also be mindful that the lender will charge some fees (e.g. application and origination fees).
Be sure to review the loan’s terms and conditions carefully before deciding.
Bluestone Mortgages only offer its products via mortgage intermediaries. Therefore, if you are considering a mortgage with them, speak to a mortgage advisor who can help you compare your options.
Can I remortgage with Bluestone Mortgages?
You will need to speak with Bluestone Mortgages if you are already a customer and looking to switch your rate.
As Bluestone can consider mortgages to underserved customers who may not fit mainstream lenders their rates are generally higher, you should investigate if you can remortgage to a more competitive rate.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
How long does it take to get an offer with Bluestone Mortgages?
Bluestone Mortgages’ average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals, for example, due to bad credit, a non-traditional construction, or multiple sources of income.
I’ve been declined by Bluestone Mortgages. What do I do now?
If you’ve been declined a mortgage from Bluestone Mortgages, a mortgage advisor could help you find a lender willing to give you a mortgage. Bluestone Mortgages offers a relaxed approach to those that do not have a perfect credit report. However, other lenders could still help you.
A mortgage advisor may be able to help you find a lender, regardless of your financial situation. If you want more details about your credit history, you can go to Check My File to sign up for a free trial.
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Bluestone Mortgages is a specialist mortgage lender launched in 2015 as part of the Bluestone Group. The Group operates specialist mortgages and motor finance businesses.
Bluestone Mortgages supports mortgage brokers and their customers across the UK with a flexible approach that understands that one size does not fit all when it comes to a mortgage.
They are committed to offering residential and buy to let mortgage products to underserved customers whom mainstream lenders have let down.
Bluestone believes that people should not be prevented from achieving homeownership due to experiencing a life event.
Bluestone only offers their mortgages via mortgage advisors. Therefore, you will be unable to get a mortgage direct.
If you’ve been declined a mortgage from Bluestone Mortgages, a mortgage advisor could still help you.
Should you want to speak to an expert mortgage broker, please complete the contact box below, and I NEED ADVICE will match you with a mortgage advisor who can review the whole market and recommend the right mortgage for you.