Bluestone Mortgages

Hopefull13

samster1 said:

How does the valuation work? Will someone contact me or the seller? 

Ours is a new build but the valuation was on site and arranged through the home builder / estate agent 

Lolly632

DIP 07/01/2021 APP 14/01/2021
Hard searches on credit files have been completed. No valuation as yet.
Last week the MA advised that Bluestone had queried our affordability and they had gone back to them to explain that we are careful with our money and don't spend their estimated amount for our family size. Today MA emailed to say they're still waiting for Bluestones final decision on our mortgage and queried the payments into my husband's account from another. We explained that this is our savings account which we use as a holding account and transfer over to spend etc. No payments are made into it other than from our wages.
My question to those who have made it out the other side, does this seem like it's all going to fall through? I've emailed and asked MA for some information but to be honest I gain more information reading this thread!
Anxiety is definitely at an all time high as stupidly got my hopes up and now feel like it's all going to end with a rejection!
Thanks in advance!

samster1

Lolly632 said:

DIP 07/01/2021 APP 14/01/2021
Hard searches on credit files have been completed. No valuation as yet.
Last week the MA advised that Bluestone had queried our affordability and they had gone back to them to explain that we are careful with our money and don't spend their estimated amount for our family size. Today MA emailed to say they're still waiting for Bluestones final decision on our mortgage and queried the payments into my husband's account from another. We explained that this is our savings account which we use as a holding account and transfer over to spend etc. No payments are made into it other than from our wages.
My question to those who have made it out the other side, does this seem like it's all going to fall through? I've emailed and asked MA for some information but to be honest I gain more information reading this thread!
Anxiety is definitely at an all time high as stupidly got my hopes up and now feel like it's all going to end with a rejection!
Thanks in advance!

Don't give up hope, my application went in 15th of December and my valuation only got instructed today. Still plenty time for it all to work out. I feel your pain and I know the wait for me these last 8 weeks or so has been horrible. Best of luck with it all. 

Hopeful89

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

Cam2021

Hopeful89 said:

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

You can start conveyancing to speed things up and reassure the vendor, we started conveyancing and mortgage application at the same time and it looks like all will hopefully be sorted by the end of March. If we get declined than we wont have lost much money and it was worth the risk with stamp duty holiday coming to an end. But you shouldnt gave got this far with bluestone if you wernt going to be accepted. MAs will tell you to wait until you have an offer but in some cases that's not possible, you could risk losing your house if the vendor cant wait forever. Instruct your solicitor to start searches, they can take a few weeks. 

Hopeful89

Cam2021 said:

Hopeful89 said:

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

You can start conveyancing to speed things up and reassure the vendor, we started conveyancing and mortgage application at the same time and it looks like all will hopefully be sorted by the end of March. If we get declined than we wont have lost much money and it was worth the risk with stamp duty holiday coming to an end. But you shouldnt gave got this far with bluestone if you wernt going to be accepted. MAs will tell you to wait until you have an offer but in some cases that's not possible, you could risk losing your house if the vendor cant wait forever. Instruct your solicitor to start searches, they can take a few weeks. 

Hey thank you. Sorry should have said we have instructed our solicitor, it’s just our sellers are moving very fast and I’m worried that they’ll start to get antsy! 

Cam2021

Hopeful89 said:

Cam2021 said:

Hopeful89 said:

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

You can start conveyancing to speed things up and reassure the vendor, we started conveyancing and mortgage application at the same time and it looks like all will hopefully be sorted by the end of March. If we get declined than we wont have lost much money and it was worth the risk with stamp duty holiday coming to an end. But you shouldnt gave got this far with bluestone if you wernt going to be accepted. MAs will tell you to wait until you have an offer but in some cases that's not possible, you could risk losing your house if the vendor cant wait forever. Instruct your solicitor to start searches, they can take a few weeks. 

Hey thank you. Sorry should have said we have instructed our solicitor, it’s just our sellers are moving very fast and I’m worried that they’ll start to get antsy! 

Oh I see, you still have many of time, hopefully only takes a couple of weeks to complete once they have your mortgage offer. Hoping that's the case for us! I cant imagine what else we would be asked for now, praying we'll be told to book valuation very soon. It's weird you havnt heard anything since the 2nd, weve had more than one response per week. Has your MA said your waiting in the que for valuation?

Hopeful89

Cam2021 said:

Hopeful89 said:

Cam2021 said:

Hopeful89 said:

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

You can start conveyancing to speed things up and reassure the vendor, we started conveyancing and mortgage application at the same time and it looks like all will hopefully be sorted by the end of March. If we get declined than we wont have lost much money and it was worth the risk with stamp duty holiday coming to an end. But you shouldnt gave got this far with bluestone if you wernt going to be accepted. MAs will tell you to wait until you have an offer but in some cases that's not possible, you could risk losing your house if the vendor cant wait forever. Instruct your solicitor to start searches, they can take a few weeks. 

Hey thank you. Sorry should have said we have instructed our solicitor, it’s just our sellers are moving very fast and I’m worried that they’ll start to get antsy! 

Oh I see, you still have many of time, hopefully only takes a couple of weeks to complete once they have your mortgage offer. Hoping that's the case for us! I cant imagine what else we would be asked for now, praying we'll be told to book valuation very soon. It's weird you havnt heard anything since the 2nd, weve had more than one response per week. Has your MA said your waiting in the que for valuation?

It’s since 22nd we haven’t heard a word! MA hasn’t heard from them since all our forms were submitted and the last document to go in I sent him on 22nd Jan. 
I hope everything goes well for you  

Cam2021

Hopeful89 said:

Cam2021 said:

Hopeful89 said:

Cam2021 said:

Hopeful89 said:

We haven’t heard anything since 22nd Jan when we sent our last document over to our MA for our full application. Our sellers have had their searches completed on their new house and sound like they’re starting to get frustrated  

You can start conveyancing to speed things up and reassure the vendor, we started conveyancing and mortgage application at the same time and it looks like all will hopefully be sorted by the end of March. If we get declined than we wont have lost much money and it was worth the risk with stamp duty holiday coming to an end. But you shouldnt gave got this far with bluestone if you wernt going to be accepted. MAs will tell you to wait until you have an offer but in some cases that's not possible, you could risk losing your house if the vendor cant wait forever. Instruct your solicitor to start searches, they can take a few weeks. 

Hey thank you. Sorry should have said we have instructed our solicitor, it’s just our sellers are moving very fast and I’m worried that they’ll start to get antsy! 

Oh I see, you still have many of time, hopefully only takes a couple of weeks to complete once they have your mortgage offer. Hoping that's the case for us! I cant imagine what else we would be asked for now, praying we'll be told to book valuation very soon. It's weird you havnt heard anything since the 2nd, weve had more than one response per week. Has your MA said your waiting in the que for valuation?

It’s since 22nd we haven’t heard a word! MA hasn’t heard from them since all our forms were submitted and the last document to go in I sent him on 22nd Jan. 
I hope everything goes well for you  

Oh how frustrating! Dont be afraid to push your MA for regular updates. Good luck!

samster1

Spoke to mortgage advisor regarding the instructed valuation.
 
I'm told bluestone will contact the company who did the home report for valuation. I'm confused as the home report was handed in on 15th of December and I was told that it had to be within 3 months which it was at that time. Its essentially a couple of days out and I'm likely to now have to pay for another valuation which will likely be a retype of the original valuation home report.