Important update | We are making some changes
At Bluestone Mortgages, we are dedicated to helping underserved customers realise their dream of home ownership and take immense pride in ensuring our products consistently provide excellent outcomes for your clients.
As a result, we are writing to let you know that from Thursday 18th July, we will be making some changes to our lending criteria and documentation requirements as follows.
Lending into retirement
Lending into retirement will be deemed as the earlier of:
- The customers anticipated retirement age
- Age 70
If the mortgage extends into retirement or beyond the age of 70, evidence will be required to demonstrate that the mortgage will be affordable throughout the life of the loan as follows:
- For customers aged <50yrs or 20yrs+ until retirement, we will require satisfactory evidence of payments into a pension plan to be supplied.
- For customers aged >50yrs or less than 20yrs until retirement, satisfactory evidence of future income will be required, such as a pension statement
We may consider using pre-retirement income only beyond age 70, to a maximum age of 73 for skilled professionals, for example:
- Specialist Consultants in Finance
- Legal Practitioners
- Doctors / Medical Practitioners including support staff
- Business Owners
Mortgage term
The maximum age at the end of the mortgage term will be 75yrs
Unsecured arrears
The maximum number of unsecured debts that are in arrears at the point of application is 5, including active defaults
Self-employed
For self-employed applicants, an Accountant’s Certificate is no longer accepted as the sole proof of income
Our broker portal will be updated to reflect these changes at 6pm on Thursday 18th July.
If you have any questions or concerns about the above, please feel free to request a callback from your BDM by clicking here or calling 0800 368 1833.
Important Update | System issues following our recent update
We’ve identified some issues in our system following a recent update to our broker portal last night. Some of these issues have been resolved, however some issues may be affecting certain cases being processed on our broker portal, including Product Transfer applications.
Our technical team is investigating the matter with the highest priority. We’re working diligently to resolve these issues as quickly as possible and will provide an update shortly.
We appreciate your patience during this time. Should you have any urgent concerns, please do not hesitate to contact our support team using the details below.