Bluestone Mortgages reads the deeper, more layered credit histories that sit beyond the milder specialists — inconsistent trajectories, returning-to-work restarts and compound files — while still assessing contractor income properly. It is the considered option at the accessible end of the rehabilitation market: not a last resort, but a specialist that reads the whole story. This guide covers how it assesses income and where it fits.
Approach is stable; the right approach and figures are confirmed at application.
Where a mainstream or milder-specialist lender sees a layered or more recent credit history and declines, Bluestone reads it — including returning-to-work cases and files with more than one event — and weighs the contractor income alongside rather than letting the history collapse it. For a contractor whose finances took a knock but whose earning power is now strong, that is the difference between a decline and a route back. The approach depends on your specific file, confirmed at application.
Bluestone reads contractor income manually, with the day rate annualised in the standard way where it applies:
Day rate x 5 days x 46 weeks = assessed annual income
A £500 day rate assesses at £115,000; at a standard 4.5x that is around £517,000 of indicative borrowing — illustrative, and dependent on your circumstances, credit profile and Bluestone’s live criteria.
A typical application is a well-assembled file: contract, work history, bank statements, and a clear, honest picture of the credit history and its context. Pricing reflects the depth of appetite, and it is transitional — as the file recovers and conduct stays clean, a mainstream remortgage becomes available, and we map that staircase. Its sweet spot is the contractor with deeper or layered adverse, or returning to work, who still has genuine earning power.
Illustrative only, using the standard 5 x 46 method and a typical 4.5x multiple; the approach depends on your credit file.
Bluestone reads the whole story, so tell it clearly: the credit history, the context and reasons, and the evidence that things have turned — alongside the contract that shows current earning power. An honest, complete narrative is what lets it lend where a scorecard would decline.
Map the recovery: as the file improves and conduct stays clean, we plan the staircase back towards mainstream pricing.
Bluestone suits the contractor with deeper or layered adverse, or returning to work after a difficult period, who nonetheless has genuine current earning power. It is the considered route back for the case beyond the milder specialists.
It suits you less well if your adverse is mild (a milder, cheaper specialist fits) or clean (a mainstream lender does).
Yes — it reads layered and more recent histories, including returning-to-work cases, while assessing contractor income properly. The right approach depends on your file, confirmed at application.
On the day rate or contract basis, annualised as rate x 5 x 46 where it applies, read manually alongside the credit history rather than collapsed by it.
No — it is the considered option for deeper cases, a specialist that reads the whole story. Specifics are confirmed at application.
Yes to both, with appropriate income evidence for each structure.
It is transitional by design — as the file recovers and conduct stays clean, a mainstream remortgage becomes available. We map the staircase out.
Pricing reflects the depth of adverse it accepts. Where the profile will recover we plan the remortgage exit to mainstream pricing.
Bluestone specialises in deeper and more layered credit histories, including returning-to-work cases, but it is not a last resort — it is a considered specialist that reads the whole story and assesses your contract income properly. For milder adverse, a cheaper specialist may fit better, which we would identify.
Yes — its pricing is transitional by design. As your credit file recovers and your conduct stays clean, a mainstream remortgage becomes available, and we map that staircase out so you move to sharper pricing when you qualify.
Want to know whether Bluestone Mortgages is the right lender for your contract — or which lender is? As a whole-of-market brokerage we compare Bluestone Mortgages against the rest of the market and confirm live criteria for your circumstances before you apply.