Bluestone Mortgages has introduced criteria and system updates aimed at streamlining the mortgage application process.
These key changes have been made to speed up the customer journey and provide brokers with greater flexibility.
Bluestone has increased the maximum loan-to-value (LTV) on its BBB product to 75%, up from 70%, supporting those saving for a deposit.
The BBB product is eligible for customers with up to four defaults and three County Court Judgements (CCJs) in the past 36 months and those who have more recently been discharged from bankruptcy and IVA’s.
Bluestone has also made enhancements to its broker portal by introducing DocuSign for application declarations, which will speed up the submission times by eliminating the need for wet signature documents.
The lender has also added new fields to its broker portal to capture information on clients’ adverse credit history, allowing for vulnerable customers to be identified and supported earlier on in the mortgage application process, further reducing the need for additional paperwork.
Mark Hollands, head of sales and distribution at Bluestone Mortgages, said: “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.”
