URGENT MESSAGE FROM BLUESTONE MORTGAGES

There can be no doubt that the market environment remains disrupted and continues to change by the day.

Over the last few weeks, we have focused on ensuring our existing borrowers have the support they need during this challenging time, whilst also striving to ensure our products continue to provide solutions for your customers.

The market has continued to become more restrictive, with most purchase transactions being delayed and physical property valuations becoming impossible due to COVID-19. As a consequence, we have taken the decision to withdraw our products and suspend all new mortgage applications as part of a temporary pause in origination activities.

We will continue to process applications that have already been submitted to us, prioritising those applications where the valuation has already been completed. All other applications will be processed and underwritten as normal, pending the availability of an acceptable valuation. We are working on desktop and AVM alternatives to physical valuations and will let you know if we are able to deliver this solution. All offered loans will continue to completion as normal.

Access to Bluelink will close at 5pm this evening for new business and then continue for all pipeline applications.

Our decision to temporarily suspend new applications will allow us to reallocate some colleagues to customer support functions, ensuring we can help existing borrowers as the situation progresses. We are also furloughing a number of colleagues under the government’s COVID-19 Job Retention Programme.

This means that your normal Bluestone contact may not be available. However, we will still be available to provide support with existing applications. Please call us on 0800 368 1833 for assistance.

We would like to take this opportunity to thank you for all of your support and patience during this period and we look forward to working with you when the disruption caused by COVID-19 starts to abate!