It also introduces new features to its broker portal
Bluestone Mortgages has announced a series of updates to its lending criteria and broker portal, aiming to speed up the mortgage application process and offer greater flexibility for brokers.
The specialist lender has increased the maximum loan-to-value (LTV) on its BBB product from 70% to 75%. This change is designed to assist borrowers with limited deposit savings.
The BBB product caters to customers with up to four defaults and three county court judgments (CCJs) within the past 36 months, as well as those who have been more recently discharged from bankruptcy or individual voluntary arrangements (IVAs).
In addition to the criteria changes, Bluestone has introduced new features to its broker portal to improve efficiency. A key enhancement is the integration of DocuSign for application declarations, eliminating the need for wet signatures and reducing submission times.
The portal now also includes new fields to capture clients’ adverse credit history, allowing brokers to identify vulnerable customers earlier in the process. This change aims to minimise additional paperwork and provide tailored support to clients.
Mark Hollands, head of sales and distribution at Bluestone Mortgages, said the updates reflect the lender’s commitment to supporting brokers.
“As part of our ongoing commitment to brokers, we’ve made these changes to improve the broker experience through the application process while providing greater flexibility and enhanced our ability to provide the right support to help a growing number of customers achieve their homeownership goals,” Hollands said.
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