Bluestone Mortgages

ACG

Most of my customers have bad credit. They are generally a lot more nervous than customers without bad credit - having been declined, expecting to be declined or being told they have no chance. 

Giving 5-10 minutes to answer a few questions whilst waiting for lunch... I mean in between meetings... I would like to think helps the stress levels and keeps my mind occupaied for the next 12 minutes! 

jamesieboi46

ACG said:

Most of my customers have bad credit. They are generally a lot more nervous than customers without bad credit - having been declined, expecting to be declined or being told they have no chance. 

Giving 5-10 minutes to answer a few questions whilst waiting for lunch... I mean in between meetings... I would like to think helps the stress levels and keeps my mind occupaied for the next 12 minutes! 

 Can I ask another question here..my wife is meant to deal with council tax but she never pays this...!! Will this affect the application at all?? Obviously this doesn't show on credit files but will they notice this on bank statements and be like wheres the council tax or not a big issue? I've been insisting on her making a payment at least!

ACG

Its not something I have come across in all honesty. 
I think they rely more on the credit report. As the council tax is not a credit commitment and no CCJ has been issued I would imagine it will be ok. But im not sure. 

jamesieboi46

Hopefully won't be an issue with it not being on credit reports like you say but still feels risky when anxiety is already high! Fingers crossed we will be fine thank you.

jamesieboi46

I've just noticed you have over 26k posts that's an insane amount of writing on here 😂 man of knowledge 

ACG

jamesieboi46 said:

I've just noticed you have over 26k posts that's an insane amount of writing on here 😂 man of knowledge 

I joined this site before I became a broker (13-14 years ago). I used to read peoples posts and then go and research them so that when I became a broker I had an idea of what I was doing. 

It works out at 4-5 posts a day ever since. Yikes! 

Proghouse95

Proghouse95 said:

An update on our bluestone application.. as far as i can see in this thread very few people get declined by bluestone once they get there AIP.  Well looks like we’ve bucked that trend.  No IVA, No DMP, No CCJ’S  only 1 default in 2 years for sky mobile, But it seems a credit spring account is worse than all those things & one payed off no less. 6 weeks after our first enquiry with mortgagekey & 3 weeks after our AIP a credit spring account was given as the reason we no longer meet bluestones lending criteria. An account that was on our file when the broker reviewed it back in January & when she told us she could see no reason at all why we wouldn’t get this mortgage.
Thought we were sailing through when the valuation was booked in just a few days after full application was submitted but apparently not. Something doesn’t quite sit right with me about it but we will move on & try somewhere else

Gutted is an understatement

So we’ve now gone to another broker. Mentioned to them Credit spring as wanted them to know this upfront but didn’t mention we’d been turned down by any lender mainly because we thought any lender we’d tried before wouldn't agree an AIP anyway. We’ve managed to secure another AIP with a lender, that initially the broker was reluctant to share with us. Cheaper interest rate, over a longer term paying £200 a month less than the bluestone quote.  Last night he forwarded some forms for us to fill in and yes you’ve guessed it  it’s Bluestone.. Not really sure how that works but have now informed the broker that we’ve already been rejected by them & awaiting his response

jamesieboi46

Proghouse95 said:

Proghouse95 said:

An update on our bluestone application.. as far as i can see in this thread very few people get declined by bluestone once they get there AIP.  Well looks like we’ve bucked that trend.  No IVA, No DMP, No CCJ’S  only 1 default in 2 years for sky mobile, But it seems a credit spring account is worse than all those things & one payed off no less. 6 weeks after our first enquiry with mortgagekey & 3 weeks after our AIP a credit spring account was given as the reason we no longer meet bluestones lending criteria. An account that was on our file when the broker reviewed it back in January & when she told us she could see no reason at all why we wouldn’t get this mortgage.
Thought we were sailing through when the valuation was booked in just a few days after full application was submitted but apparently not. Something doesn’t quite sit right with me about it but we will move on & try somewhere else

Gutted is an understatement

So we’ve now gone to another broker. Mentioned to them Credit spring as wanted them to know this upfront but didn’t mention we’d been turned down by any lender mainly because we thought any lender we’d tried before wouldn't agree an AIP anyway. We’ve managed to secure another AIP with a lender, that initially the broker was reluctant to share with us. Cheaper interest rate, over a longer term paying £200 a month less than the bluestone quote.  Last night he forwarded some forms for us to fill in and yes you’ve guessed it  it’s Bluestone.. Not really sure how that works but have now informed the broker that we’ve already been rejected by them & awaiting his response

That's crazy interested to see the outcome off this!

ACG

Proghouse95 said:

Proghouse95 said:

An update on our bluestone application.. as far as i can see in this thread very few people get declined by bluestone once they get there AIP.  Well looks like we’ve bucked that trend.  No IVA, No DMP, No CCJ’S  only 1 default in 2 years for sky mobile, But it seems a credit spring account is worse than all those things & one payed off no less. 6 weeks after our first enquiry with mortgagekey & 3 weeks after our AIP a credit spring account was given as the reason we no longer meet bluestones lending criteria. An account that was on our file when the broker reviewed it back in January & when she told us she could see no reason at all why we wouldn’t get this mortgage.
Thought we were sailing through when the valuation was booked in just a few days after full application was submitted but apparently not. Something doesn’t quite sit right with me about it but we will move on & try somewhere else

Gutted is an understatement

So we’ve now gone to another broker. Mentioned to them Credit spring as wanted them to know this upfront but didn’t mention we’d been turned down by any lender mainly because we thought any lender we’d tried before wouldn't agree an AIP anyway. We’ve managed to secure another AIP with a lender, that initially the broker was reluctant to share with us. Cheaper interest rate, over a longer term paying £200 a month less than the bluestone quote.  Last night he forwarded some forms for us to fill in and yes you’ve guessed it  it’s Bluestone.. Not really sure how that works but have now informed the broker that we’ve already been rejected by them & awaiting his response

Credit spring will catch a lot of brokers out. Its not a pay day loan, but Bluestone only say no pay day loans, where as what they actually mean is no high interest loans (I cant recall if the cut off point is 30% apr, 80% or 100% - probably none of those haha). Every lender is different so would need to check, but unless a broker has experience of bluestone (and adverse in general), it will catch them out. 

Proghouse95

ACG said:

Proghouse95 said:

Proghouse95 said:

An update on our bluestone application.. as far as i can see in this thread very few people get declined by bluestone once they get there AIP.  Well looks like we’ve bucked that trend.  No IVA, No DMP, No CCJ’S  only 1 default in 2 years for sky mobile, But it seems a credit spring account is worse than all those things & one payed off no less. 6 weeks after our first enquiry with mortgagekey & 3 weeks after our AIP a credit spring account was given as the reason we no longer meet bluestones lending criteria. An account that was on our file when the broker reviewed it back in January & when she told us she could see no reason at all why we wouldn’t get this mortgage.
Thought we were sailing through when the valuation was booked in just a few days after full application was submitted but apparently not. Something doesn’t quite sit right with me about it but we will move on & try somewhere else

Gutted is an understatement

So we’ve now gone to another broker. Mentioned to them Credit spring as wanted them to know this upfront but didn’t mention we’d been turned down by any lender mainly because we thought any lender we’d tried before wouldn't agree an AIP anyway. We’ve managed to secure another AIP with a lender, that initially the broker was reluctant to share with us. Cheaper interest rate, over a longer term paying £200 a month less than the bluestone quote.  Last night he forwarded some forms for us to fill in and yes you’ve guessed it  it’s Bluestone.. Not really sure how that works but have now informed the broker that we’ve already been rejected by them & awaiting his response

Credit spring will catch a lot of brokers out. Its not a pay day loan, but Bluestone only say no pay day loans, where as what they actually mean is no high interest loans (I cant recall if the cut off point is 30% apr, 80% or 100% - probably none of those haha). Every lender is different so would need to check, but unless a broker has experience of bluestone (and adverse in general), it will catch them out. 

But how have we got another AIP from a lender we’ve only very recently been rejected by after a full application?