Bluestone Mortgages

iViewTV

What did you put if you don’t mind me asking?

newhome235678

Just that my situation has just changed massively. I was young and silly and wasn’t earning enough to fund my expensive lifestyle. But I had just qualified before our mortgage application went in and my wages had doubled.. so they hopefully saw I was earning enough to cover myself now. 

All i would say is if you are completely honest with them at DIP stage then you’ll be fine. I told my broker everything within our first call. 

I also had to explain the default within a similar letter. X 

letsmove

Does anyone know if they do desktop valuations or they actually view the property ? The reason for my questioning is my current buyers have yet to have a valuation yet they claim they should have a answer today! I have hung on for nearly 7 wks now and have said if I don’t have answer by this week am going to have to re market my property as I don’t won’t to loose the house Am buying.
thank you 

mortgagetakingages

letsmove said:

Does anyone know if they do desktop valuations or they actually view the property ? The reason for my questioning is my current buyers have yet to have a valuation yet they claim they should have a answer today! I have hung on for nearly 7 wks now and have said if I don’t have answer by this week am going to have to re market my property as I don’t won’t to loose the house Am buying.
thank you 

https://www.mortgageintroducer.com/bluestone-resumes-mortgage-lending/
this indicates that they are doing desktop valuations assuming they haven't changed back. If you remarket I personally think you are nuts. The whole market is slow currently and you would just be resetting the clock. 

iViewTV

What’s the chances of a full application being declined by Bluestone? 2 defaults in 18 months but I’m hoping my broker wouldn’t put in the application if he thought it would be declined. 

fingerscrossed7

Can't comment on the chances but I had 2 defaults within 12 months and was approved. There's many posts on this forum from brokers who speak about very high success rates with Bluestone. You'll get there! 

iViewTV

Thanks a lot. Full application this week so hopefully good news!

minky31

We've gone with Bluestone too had credit an identity checks on July 2nd an a few requests in between then an now for further information which we've send all they've asked for.
How long before the underwriter instructs a valuation an then get use the formal offer, we sent the last requested information on July 27th?
Getting a bit nervous now.

fortheloveofdogs

@minky31 I had confirmation from my broker that my application was submitted to bluestone yesterday and this was an email from my broker regarding timescales. Hope this gives you a bit of an idea. Whilst timescales can vary, I would expect an initial assessment to be carried out by an underwriter within 7-10 working days at which point we will have a better idea of how long it will take to receive your formal offer

newhomme20206

minky31 said:

We've gone with Bluestone too had credit an identity checks on July 2nd an a few requests in between then an now for further information which we've send all they've asked for.
How long before the underwriter instructs a valuation an then get use the formal offer, we sent the last requested information on July 27th?
Getting a bit nervous now.

We had our DIP on the 25th June then a little back and forth of documents with bluestone up to the 16th July and my mortgage advisor told me yesterday we should hear from the underwriter this Friday regarding a valuation! Hope that helps ☺️