07 July 2017
Bluestone have made changes to the way they view missed payments and now only consider the number of missed payments rather than the worst status.
Here's a real life case study to illustrate how this will help you help more customers.
Mr F was made redundant 4 years ago and as a direct result was unable to make all his mortgage payments. Although he made small payments during this time and his account is now up to date, his credit report showed a Status 3 in the last 12 months and Status 6 within the last 13-24 months. Previously they would have declined this application as they would have classed the status 3's within the last 12 months as a missed payment and allowed for a maximum of status 4 in months 13-24.
As payments have been made continually in last 12 months and Mr F has only missed one additional payment in months 13-24 the're now happy to approve this application on their AAA Product range.
If you've got an enquiry or something similar sitting on your desk and you’d like to talk it through, give them a call today on 0800 368 1833.