Bluestone Mortgages

JoeyKez

Ok thanks for letting us know. I have just spoken with our MA who has just told us the same. Looks as though we’ve missed receiving the offer by hours which is a shame. Do you happen to know what these rates are looking like? (i.e where they are starting from)

ACG

Starts at 8.2-8.5% up to around 9.5% depending on the LTV, level of adverse and how long you fix for. 

canonman

ACG said:

Quick update for you...
Bluestone have launched some new products (higher rates). 
If you have an offer you are safe. If you have made an application but do not yet have an offer you are going to have to pick one of the higher rates. 

I am sure your brokers are as annoyed as you are, try and go easy on them there is not a lot they can do. 

Thanks for the update I’m glad I’m safe. 

Do you have a rough average of the % increase. I’d assume it be into 7% for most people ? 

ACG

One customer will have a rate 1.1% higher than it was last week. 

alynos74

canonman said:

ACG said:

Quick update for you...
Bluestone have launched some new products (higher rates). 
If you have an offer you are safe. If you have made an application but do not yet have an offer you are going to have to pick one of the higher rates. 

I am sure your brokers are as annoyed as you are, try and go easy on them there is not a lot they can do. 

Thanks for the update I’m glad I’m safe. 

Do you have a rough average of the % increase. I’d assume it be into 7% for most people ? 

ACG said:

One customer will have a rate 1.1% higher than it was last week. 

Do you know if they’re reassessing affordability based on the higher rates?

ACG

It doesnt say, but it could be:

• All applications that have been reviewed by an underwriter, but have not received a mortgage offer, will automatically be moved to these new interest rates by our team
• We will contact you to confirm how this impacts your existing applications and verify if your customers would still like to proceed

alynos74

ACG said:

It doesnt say, but it could be:

• All applications that have been reviewed by an underwriter, but have not received a mortgage offer, will automatically be moved to these new interest rates by our team
• We will contact you to confirm how this impacts your existing applications and verify if your customers would still like to proceed

Thanks for sharing. I think we should hopefully be okay as we’ve not stretched ourself to our max affordability, but anything over 10% and we’re screwed. 

kelt99

I’ve had a DIP but not a final offer. Does the rate that I’ve been offered still stand??

ACG

kelt99 said:

I’ve had a DIP but not a final offer. Does the rate that I’ve been offered still stand??

No. It is only if you have a full mortgage offer. 

kelt99

ACG said:

kelt99 said:

I’ve had a DIP but not a final offer. Does the rate that I’ve been offered still stand??

No. It is only if you have a full mortgage offer. 

Just spoke to my mortgage broker and he tells me mines locked in … so that’s good news for me