Lender now accepts applications from those who have taken a recent payday loan
Bluestone Mortgages has made criteria changes to provide further support to a growing number of complex credit customers.
The lender will now accept applications from clients who have recently taken a payday loan, providing it has been cleared on completion. Previously, Bluestone required that no new loans be taken out in the last 12 months.
These updates mean that Bluestone is now able to offer a solution to customers who have been misinformed about the ramifications of taking out a payday loan, or those who have had to take out a payday loan due to a recent life event.
“At Bluestone, we believe that previous financial difficulties should not exclude anyone from owning their dream home. Ultimately, these changes will provide our customers with greater choice and give them the helping hand they deserve,” Reece Beddall, sales and marketing director at Bluestone Mortgages, said.
The criteria changes will be available to all mortgage brokers.
