Bluestone Mortgages

Alldogsgotoheaven

Hi ACG, 

I really appreciate you taking the time to get back to me ah ok, so I am hoping all will be ok! 

Do you usually hear back quickly with that scenario? 

ACG

Ive not sent any cases to them since October or November. I think it was taking them 2-3 working days to assess documents back then. I cant imagine it has changed too much in that time. 

soanxious

Hi
We had an application put in to Bluestone Mortgages on the 14th Feb so 5 weeks ago today. Mortgage Advisor has said she has requested an escalation today, is that bad?

We have defaults more than 3 years ago, no credit outgoings but my partner has a ccj for parking registered about 18 months ago. According to Mortgage Advisor we fit in the clear criteria range but just wondered if anyone knows how they work out monthly affordability and what percentage of income do they use for mortgage payments.

We are applying for 115k over 15 years

Does anyone know what our net income would need to be ? Thanks 

ACG

They do not really go off net income... They assess your affordability as a whole. Bluestone are harsh on affordability, for expenditure they use the worst of ONS or bank statements so if you are trying to obtain the absolute maximum from bluestone there is a possibility the loan amount could be reduced. 

But I think that is the worst that will happen for you, the adverse will be fine. They might come back and reduce the loan amount if there is a problem with affordability but that might "just be" £200-500 although could be more. If your broker has done a good job though then it should not be a problem. But I do always struggle with bluestone and affordability if you are trying to get the full 4.5x income.