Bluestone Mortgages

doglover34

Kellyb88 said:

Hopeful89 said:

Kellyb88 said:

So here goes week 10 of application , was told by MA that brightstar would have an update by Wednesday if documents sent in last week was okay..that's with our case supposedly escalated 😔 Only 5 weeks until 31st March.. Its looking more and more like we're going to run out of time and loose our house as bluestone are just taking too long 😭  my faith and patience have gone. 😔

This is how we feel Kelly

It's so sad and frustrating isn't it, Im not sure how quick bluestone timescales is with releasing money after offer, if its anything like the application we have no chance 😔 really regret not changing our MA now as I think that's half the problem and also brightstar as the packager,  just feels like they haven't a clue with what there doing 🤔. 

they are very quick at realsing money, they say 5 working days, we didnt end up exchanging to the monday and they still got the money in by the thursday to complete on the friday.

Kellyb88

Anxiousbuyer21 said:

Kellyb88 said:

So here goes week 10 of application , was told by MA that brightstar would have an update by Wednesday if documents sent in last week was okay..that's with our case supposedly escalated 😔 Only 5 weeks until 31st March.. Its looking more and more like we're going to run out of time and loose our house as bluestone are just taking too long 😭  my faith and patience have gone. 😔

good luck.. we are in our 7th week.. and to be honest, I am scared to even ask for any updates now, incase they want anymore documents from us..But I am a lot calmer now, stressing out isn't really helping me. If we can't complete by 31st we will have to pull out. I have lost my faith aswell- wishing you best of luck and keeping fingers cross for you! 

Fingers crossed we get some good news very soon 🤞🤞

Kellyb88

MrsH2 said:

Kellyb88 said:

Hopeful89 said:

Kellyb88 said:

So here goes week 10 of application , was told by MA that brightstar would have an update by Wednesday if documents sent in last week was okay..that's with our case supposedly escalated 😔 Only 5 weeks until 31st March.. Its looking more and more like we're going to run out of time and loose our house as bluestone are just taking too long 😭  my faith and patience have gone. 😔

This is how we feel Kelly

It's so sad and frustrating isn't it, Im not sure how quick bluestone timescales is with releasing money after offer, if its anything like the application we have no chance 😔 really regret not changing our MA now as I think that's half the problem and also brightstar as the packager,  just feels like they haven't a clue with what there doing 🤔. 

We're just waiting to exchange and have been advised by our solicitor that bluestone require at least 5 full working days between exchange and completion. 
Good luck.... have everything crossed for you

That's amazing! How long ago did you get your offer? 

MrsH2

Kellyb88 said:

MrsH2 said:

Kellyb88 said:

Hopeful89 said:

Kellyb88 said:

So here goes week 10 of application , was told by MA that brightstar would have an update by Wednesday if documents sent in last week was okay..that's with our case supposedly escalated 😔 Only 5 weeks until 31st March.. Its looking more and more like we're going to run out of time and loose our house as bluestone are just taking too long 😭  my faith and patience have gone. 😔

This is how we feel Kelly

It's so sad and frustrating isn't it, Im not sure how quick bluestone timescales is with releasing money after offer, if its anything like the application we have no chance 😔 really regret not changing our MA now as I think that's half the problem and also brightstar as the packager,  just feels like they haven't a clue with what there doing 🤔. 

We're just waiting to exchange and have been advised by our solicitor that bluestone require at least 5 full working days between exchange and completion. 
Good luck.... have everything crossed for you

That's amazing! How long ago did you get your offer? 

Recieved our offer 2 Feb. Just been waiting for others in the chain to be ready to exchange. 

springmagpie

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Hopeful89

springmagpie said:

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Can I ask why did they ask parents to seek legal advice? We have parents and a grandmother gifting money but they’ve not asked us to do that (yet). That sounds like a nightmare 

springmagpie

Hopeful89 said:

springmagpie said:

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Can I ask why did they ask parents to seek legal advice? We have parents and a grandmother gifting money but they’ve not asked us to do that (yet). That sounds like a nightmare 

They had to take independent legal advice about gifting the deposit. We didn't know about needing it until the offer came through. They had already completed the gifted deposit forms for bluestone, they also had to get a declaration of solvency and an indemnity, all not mentioned until the offer came through, has taken an additional week as they had to physically go and see a solicitor nad get paper copies to bluestone and cost an additional £400. 

Hopeful89

springmagpie said:

Hopeful89 said:

springmagpie said:

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Can I ask why did they ask parents to seek legal advice? We have parents and a grandmother gifting money but they’ve not asked us to do that (yet). That sounds like a nightmare 

They had to take independent legal advice about gifting the deposit. We didn't know about needing it until the offer came through. They had already completed the gifted deposit forms for bluestone, they also had to get a declaration of solvency and an indemnity, all not mentioned until the offer came through, has taken an additional week as they had to physically go and see a solicitor nad get paper copies to bluestone and cost an additional £400. 

Oh my god! Thanks for the info it’s good to know this is coming. I’ve pretty much given up tbh! I hope yours goes through for you now and enjoy your new home  

mcstrata

Hopeful89 said:

springmagpie said:

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Can I ask why did they ask parents to seek legal advice? We have parents and a grandmother gifting money but they’ve not asked us to do that (yet). That sounds like a nightmare 

Yeah we had the same. Had to take out indemnity policy to cover the cost of the property for the gifted deposit so that the gifters cannot make a claim on any of that in case of bankruptcy. It was fairly straightforward as our solicitors sorted that for £174 for us. It's not something you find out about until your offer  comes through with the conditions stated. Please bear in mind there may be other conditions you won't know about until you get the offer such as paying off some debts but everyone's case is different. 

Cantfightfate

mcstrata said:

Hopeful89 said:

springmagpie said:

We had our mortgage offer on the 25th Jan, it has special conditions, pay off debts (already did in Nov) and parents providing gift to have sought legal advice etc. These conditions have held us up, trying to provide the exact paperwork they need, typical bluestone turnaround. Hoping to exchange this week or early next and complete next Friday all being well. 

Can I ask why did they ask parents to seek legal advice? We have parents and a grandmother gifting money but they’ve not asked us to do that (yet). That sounds like a nightmare 

Yeah we had the same. Had to take out indemnity policy to cover the cost of the property for the gifted deposit so that the gifters cannot make a claim on any of that in case of bankruptcy. It was fairly straightforward as our solicitors sorted that for £174 for us. It's not something you find out about until your offer  comes through with the conditions stated. Please bear in mind there may be other conditions you won't know about until you get the offer such as paying off some debts but everyone's case is different. 

Can I ask where the conditions are on the offer as all we have is the offer and asking for me to provide recent payslip to prove I’m still not receiving furlough. We originally applied and said we’d pay off all debts but there’s nothing I can see in my mortgage off that dates that this is a condition.