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Bluestone Mortgages
DAZT84
Posts: 4 Newbie
Afternoon All,
I've had a AIP from Bluestone Mortgages (I've used them due to various credit issues in the past, and I'm going through a broker). I've been upfront about the fact that I've had a couple of payday loans in the last 12 months - they're on my credit file, and I've told Bluestone about them, and was happy to get my AIP. They appear to have done 2 soft credit searches on my file, so I'm not sure what that will show up.
I've now put an offer on a property and just started the official application - does anyone know the likelihood of still being declined even though I've been completely honest? I assume my broker will also have been honest......
I've had a AIP from Bluestone Mortgages (I've used them due to various credit issues in the past, and I'm going through a broker). I've been upfront about the fact that I've had a couple of payday loans in the last 12 months - they're on my credit file, and I've told Bluestone about them, and was happy to get my AIP. They appear to have done 2 soft credit searches on my file, so I'm not sure what that will show up.
I've now put an offer on a property and just started the official application - does anyone know the likelihood of still being declined even though I've been completely honest? I assume my broker will also have been honest......
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Comments
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If you have been open and honest and you fut criteria/pass affordability, there is no reason for you to be declined.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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As long as you have been 100% upfront with your broker, then if your case has been accepted at DIP stage there is no real reason why it may 'fall out of bed' now. Obviously your broker will have documented proof of income and will have your latest bank statements, so if anything didn't fit he would see it immediately. The only real issue you could have would possibly be the property not being suitable security to the lender.
Good luck!I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts I may make are for information and discussion purposes only and should not be construed as financial advice.0 -
Thanks guys - I think I'm just a worrier! i just want things to work out!0
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How did it go with Bluestone? Currently have an application in with them and nervous is an understatement!!0
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katebyrne - due to problem with the developer - the full application has only gone in today - so fingers crossed.....
How are you getting on?0 -
Hi , have you heard anything back of your application? I just received my AIP now just awaiting to put application in on Monday. I’ve just seen your post and realised I got out a credit union loan this year. Do you no if this is classed as a pay day loan? Thanks0
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sophiehughess wrote: »Hi , have you heard anything back of your application? I just received my AIP now just awaiting to put application in on Monday. I’ve just seen your post and realised I got out a credit union loan this year. Do you no if this is classed as a pay day loan? Thanks
How long did you take the loan out for?
What was the interest rate?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I got a loan for £570 for 68 weeks paying back £612 - £42 interest. 12.73 %
Thanks0 -
I would be surprised if they treated that as a pay day loan.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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thank you!0
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