Bluestone Mortgages Valuation

ACG

Bluestone are a quirky lender and quite specialised in what they do.
That does mean it will take longer, but talks of 7 weeks seems a little OTT.

The last case we sent to them took 4 weeks, that included a DMP, self employed and issues with the applicants names (ie they have had 3 names, maiden, married, double barrelled).

If you are going to Bluestone, you could really do with a broker experienced with them otherwise they will put you through the mill. 4 weeks is still slow when you compare that to someone like Natwest or Nationwide who maybe take 2 weeks, but nobody goes to Bluestone as their first choice.

Packagers are very hit and miss, some add nothing to the process bar an extra man in the middle and an extra fee to pay, there are 1 or 2 who are alright. But I suppose you have to trust your broker for that.

Newjourney35

Our packager has had all paperwork sent in that was requested 2 weeks ago now and we’ve not heard anything since it’s driving me mad 😏

jid134

ACG, Mine took just shy of 6 weeks but that was because we went in early about 2 weeks before the house was released as we knew the price etc of the house it was the same house as our last one that we had fall through.

It was a easier process with bluestone as my broker had all my paperwork before doing the application due to my previous application, just needed up to date bank statements.

Packager was great as we did miss one or two things off which they told us about straight away.

Newjourney35

Slight update for me just found out from the developer that the valuation has been booked. Is it a good sign or doesn’t it really mean much in terms of getting an approve?

Newjourney35

Jid134 how long did it take from valuation to offer for you?

Newjourney35

I’ve been asked for more statements so guessing the valuation having been done doesn’t mean much at this point unfortunately 😫😫

jid134

Dont worry about them asking for more statements mate, I had to give in our joint account statements as they clicked on and we forgot to tell them as it is a brand new account purposely for the house payments.

But valuation was done and about 2 weeks after we got the offer.. it will go for final review.

Once it goes there make sure you have a good nerve as it does take a good week. They can be slow but due to how busy the are.

Keep me updated mate,

Jonjo.

Newjourney35

Jid134 thank you for that I feel a little better now
I probably won’t know when it goes for final review, I only knew about the valuation because I spoke to the developer. The packager aren’t really great with giving updates or info 😫😫
I had in my head that because it’s a new build and I didn’t pay for valuation it was good news once that was done but got a little longer to go I’m trying to be patient but I’m so anxious about it all it’s all I can think of lol

Newjourney35

Jid134 when did they do your valuation? Did they ask for the statements after it or before they did it?

Newjourney35

Sorry jid134 I also wondered about the credit searched do you know when yours were done? We had 2 done end August and then another 2 done again this week (1 identity check and one mortgage quotation on both occasions) they haven’t done any hard searches on us which I find strange?