Bluestone Mortgages

jamiebuyer

Sorry we complete 2moro and first payment is July the 1st 

MovingForwards

I completed in may, first payment was in June with a bit extra for the interest from drawdown to completion.

firsttimebuyers07

Has anyone been in the situation where their MA has had to challenge affordability figures?  Bluestone have calculated some bizarre figures for clothing and socialising. Like we don’t spend over each month and our bank statements do not reflect people that go out all the time and buy lots of clothes. 

lhollingworth89

Have you overspent in supermarkets? I wonder if they’ve balanced it out to include clothing etc?

firsttimebuyers07

@lhollingworth89 The calculations were spot on for food etc but they put this figure in for socialising and clothing like £500 a month 
we don’t really go out, I’ve left it with my MA it just seemed bizarre that they came up with with that figure 

lhollingworth89

I know they have to put something in as there is a national minimum any lender or debt collector has to put in to work out disposable income .. may be a bit high but depends on your earnings I suppose

MovingForwards

I had the opposite as I didn't spend much, nor were bills high and I rarely went out. I provided an explanation and copies of CC statements / bills to back up what I said. It satisfied my broker.

I've read the ONS data has increased, which is where the average figures come from and are used by lenders, unless your info says differently.

firsttimebuyers07

@lhollingworth89 My MA is going to challenge it as my bank statements do not reflect these figures but I have faith it will all work out i think we are are like £200 out 

@MovingForwards we are going down this route, I’m not really stressed as I have the best MA and I know she will sort it out 

lhollingworth89

Ahh fingers crossed for you then!  

jamiebuyer

We completed yesterday! I know the stress everyone is going through but hang on in there it’s all so worth it! Good luck everyone😁 xx