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FREQUENTLY ASKED QUESTIONS:
How long is the mortgage offer valid for?
When the expected occupation date is within 5 months of the application being made to Bluestone, the mortgage offer will be valid for the standard period of 6 months. If the expected occupation date is more than 5 months away, you can request a mortgage offer for a period of 9 months which we will consider on an exception basis.
What types of transactions can be completed with a Help to Buy product?
Help to Buy products will only be available for new purchases.
What is the maximum LTV?
The maximum LTV is 75%.
How will Bluestone assess affordability on Help to Buy cases?
Bluestone will assess affordability in the same way as a standard residential mortgage application but with the equity loan added as a monthly commitment. The calculation will be based on the initial 1.75% of the equity loan. E.g. Equity loan is £75,000, x1.75% divided by 12 = £109.38pm entered as an committed expenditure.
If you would like to pass the customer over to Impact Specialist Finance to handle, for example the case is too complex (Bridging/Over 55’s/Portfolios), you are going on holiday and they require an immediate solution or you don’t have the relevant permissions, we are able to accept referrals for regulated and non-regulated cases. You will still get paid and the customer will always remain yours!
To speak to one of our team to find out more, call us on 01403 272625
