SME News Q3 2023 | 18 With the cost-of-living crisis in full swing, hundreds of mortgage deals were halted or changed as market turmoil took hold of the UK economy. This prompted concerns about higher base rates and how that could affect mortgages and their affordability. A recent study by FinancialReporter suggested that 45% of UK homeowners were struggling to cope with the increase in their household bills and, of course, rising mortgage costs affect affordability too, with many borrowers finding they cannot borrow as much as they'd like, or discovering that suddenly they no longer fit the standard criteria required by lenders. Bluestone Mortgages is a specialist mortgage lender specialising in dealing with adverse credit and complex cases. The firm’s varied range of products has been specifically designed for people who fail to fit the high street banks' traditional customer profile. Not only this, but the company’s service is special, too, as it promises to treat customers as individuals and make decisions based on their circumstances, not their credit scores. Bluestone prides itself on being able to offer residential products to those who've encountered unforeseen financial issues. People should not be prevented from achieving their dreams of homeownership due to experiencing a life event. “We understand each customer is different,” explains Steve Seal, the firm’s Chief Executive Officer. “For many people, getting a mortgage can be a challenge made even harder by the stringent lending criteria and automated underwriting of many high street banks. “As a specialist mortgage lender, we take our job very seriously. Therefore, we're committed to being a responsible lender, and our highly experienced underwriters will take a holistic view of every customer’s profile to ensure we consider their circumstances and give credit where credit is due.” Serving clients who fail to meet the ‘vanilla’ criteria laid out by high street banks is no mean feat, and Bluestone aims to help those disenfranchised from the mainstream mortgage market. The business works alongside mortgage brokers to help clients with complex credit profiles and find a solution with the best possible outcome. Buying a home is a big deal, and Bluestone Mortgages (Bluestone) is committed to helping make it happen. Whilst most mortgage lenders make their decisions based on credit scores, Bluestone Mortgages knows that this model doesn’t work if finances have taken a hit due to changing life circumstances. Instead, the firm works with its clients to understand their stories and provide them with accessible and flexible mortgages so that they can buy their dream homes. CEO Steve Seal enlightens us on the firm’s offering. To this end, the firm’s ongoing commitment to supporting customers with complex credit differentiates it in the mortgage industry. “With more people facing complex financial challenges, the business has invested in training on supporting vulnerable customers,” Steve elaborates. “In addition, to help customers struggling amid the costBest Complex Credit Mortgage Lender - England
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