Bluestone Mortgages is a specialist mortgage lender dedicated to helping borrowers who may not fit the standard criteria of high street banks and building societies. With a flexible and individual approach to underwriting, they have carved out a niche by providing solutions for individuals with complex financial situations.
This guide provides a comprehensive overview of Bluestone Mortgages, what they offer, and who they are best suited for.
If you want to know what rates are available from Bluestone, you can view their latest deals and compare them against the rest of the market for free below:
Compare Rates
Showing Top Result Results
No results matching your criteria
Lender Details
Product Details
Who are Bluestone Mortgages?
Founded with the mission to support a wider range of customers, Bluestone Mortgages is a specialist lender that works exclusively through mortgage intermediaries (brokers). They are known for their manual underwriting process, which means that a human, not just a computer algorithm, assesses each mortgage application on its individual merits.
This approach allows them to consider applicants with unique circumstances, such as adverse credit histories, complex income streams, or those who are self-employed.
What types of mortgages does Bluestone Mortgages offer?
Bluestone provides a range of residential and buy-to-let mortgage products tailored to borrowers who may be underserved by mainstream lenders.
-
Residential Mortgages: These are for individuals looking to purchase or remortgage a home. Bluestone is particularly helpful for first-time buyers or homeowners who have had credit issues in the past.
-
Buy-to-Let Mortgages: Aimed at landlords, these products cater for both individual investors and those operating through a limited company.
-
Remortgages: Homeowners looking to switch their existing mortgage to a new deal, perhaps to consolidate debt or release capital, can access Bluestone's products. Their flexible criteria can be beneficial for those whose circumstances have changed since their last mortgage application.
Bluestone Mortgages' Lending Criteria: Who do they lend to?
Bluestone's key strength lies in its flexible lending criteria. They have developed a reputation for helping borrowers in a variety of non-standard situations.
-
Adverse Credit: Bluestone will consider applicants with a range of credit issues, including those with County Court Judgments (CCJs), defaults, and missed payments. The rates offered will depend on the severity and date of the credit issues.
-
Self-Employed Borrowers: They have a flexible approach for the self-employed, including sole traders, contractors, and directors of limited companies, typically requiring one year's worth of accounts.
-
Complex Income: They can consider various income types that other lenders might ignore, such as benefits, private pensions, and income from multiple jobs.
-
No Credit Score: Bluestone focuses on a borrower's payment history rather than their credit score. This means they may be able to help those with a "thin" credit file who have not built up a significant credit history.
What do customers say about Bluestone Mortgages?
As Bluestone operates solely through mortgage brokers, direct customer reviews are less common than for high street lenders. However, they are generally well-regarded within the mortgage intermediary community for their willingness to tackle complex cases and their transparent, human-led underwriting process. Feedback often highlights the efficiency of their broker portal and the expertise of their Business Development Managers.
Compare today's best mortgage rates
We work with 90+ UK mortgage lenders, including Bluestone Mortgages. You can use our service to compare mortgage rates from across the market to find the right deal.
Our mortgage sourcing tool is FREE and will show you the latest deals from Bluestone Mortgages and others so you can make an informed decision about which to choose.
Click the button below to get started comparing the entire market for free.
Pros and Cons of a Bluestone Mortgages Mortgage
Pros:
-
Specialist Support: An excellent option for those with bad credit, complex income, or who are self-employed.
-
Human Underwriting: Each case is reviewed by a person, allowing for individual circumstances to be considered.
-
No Credit Scoring: They assess affordability based on a client's real-life financial conduct, not just an automated score.
-
Flexible Criteria: They accept a wide variety of income sources and can overlook certain credit issues.
Cons:
-
Higher Interest Rates: As with most specialist lenders, their interest rates are typically higher than those offered by mainstream banks to reflect the increased risk.
-
Broker-Only Access: You cannot apply to Bluestone directly; you must go through a qualified mortgage adviser.
-
Higher Fees: Product fees can sometimes be higher than those on the high street.
How to apply for a Bluestone Mortgages mortgage
You cannot apply for a mortgage directly with Bluestone. Their products are available exclusively through a network of mortgage intermediaries and brokers, like us.
If you believe a Bluestone mortgage might be right for you, you will need to speak with a mortgage advisor who has access to their products. The advisor will be able to assess your situation and recommend the most suitable option.
Get started here to book a free, no-obligation chat with a broker who can access Bluestone Mortgages’ products and can advise you on whether they are right for you.