Bluestone announce extension to mortgage validity period

According to the lender, the new changes include a mortgage offer validity period of four months, an increase from three months. This enhancement follows a recent poll1 by Bluestone which found that 82% of brokers need a minimum offer period of four months to be confident their application would complete in time. The specialist lender has also reduced bank statement requirements, with employed applicants only required to provide their latest monthly bank statement, compared to the previous policy of three months.

Reece Beddall, (pictured) Sales & Marketing Director, Bluestone Mortgages, comments: “We are delighted to make significant policy enhancements across our whole product range, demonstrating our ongoing commitment to support both customers and brokers. This arrives at a time when we expect more people to face financial challenges in the coming months due to the impact of the pandemic, so these changes will be welcomed by those looking to achieve their homeownership dreams, whilst also positioning us as one of the most competitive lenders in the specialist space.”