Following a horrendous divorce and being off work for 6 months due to bowel cancer and chemo treatment, Susan entered into a debt management plan to relieve financial pressure. She was unaware of how much being on a debt management plan would affect her credit score, so once she was back on her feet, remarried, and looking to buy a new home she was rejected by high street lenders due to her credit score.
With Bluestone, DMPs demonstrate a client’s will/intention to voluntarily try and get on top of their finances. Therefore, customers who are currently in or have previously been in a DMP won’t be penalised by having the LTV restricted. As Susan was able to prove that her DMP was conducted in a satisfactory manner, Bluestone was happy to offer her a mortgage on our ‘Clear’ product to purchase her new home.
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