Brokers and IFAs: How many times have your clients despaired when they discover that although they’ve been making rental payments, they can’t convince a mortgage lender that the proposed mortgage payments are affordable, even though they would be lower than the rent they’ve been paying?? We bet that it’s a common complaint that frustrates you as much as your client.
That is why Brightstar are delighted to be partnered with Bluestone Mortgages; a common sense approach lender, who have created an innovative mortgage product to deliver a solution to counter this problem.
This product is exclusively available to Bluestone’s ‘Sapphire Club’ members and Brightstar are proud to be one.
Here’s some of the key features and benefits:
- Borrowers with a 12 month history of current rental (or mortgage) payments in excess of the proposed monthly mortgage payment can now borrow more
- Bluestone monthly mortgage payment must be equal to, or less than 90% of the current rental / mortgage payment, but a full 12 month payment history will be required to support this
- In these cases, Bluestone will now consider an LTI ratio of over 4.5 x income across their full product range
- This enhanced LTI ratio is available across all residential credit tiers, including Help to Buy and Right to Buy, with no LTV restrictions
And don’t forget, when you introduce your client via Brightstar, they will also benefit from the below additional exclusive criteria points:
- Discharged bankruptcy from 12 months
- Current IVA’s (must be cleared on completion)
- Accept 75% of benefit income (DLA, carers allowance, child benefit, WFTC) if 2 years remaining and not primary source of income
- Max 30% of household income
As one of Brightstar’s introducers, you and your client will also benefit from the below priority service standards:
- 48 hour turnaround
- Dedicated Underwriter:
- All cases assessed by Brightstar’s dedicated underwriter
- On site underwriting support
COMPLETE THE FORM ON THE RIGHT TO HEAR FROM OUR TEAM
ALTERNATIVELY, CALL US ON 01277 508 959