Bluestone Mortgages

Hopeful89

Stacey_Gibbons said:

Stacey_Gibbons said:

Samfaye01 said:

My application has still not been looked at and it went in on 8th Feb  how long have people waited for a valuation date ?

Ours went in end of Jan, hard search completed on 2/2, request for further information on 10/2 & submitted same day. Was told by MA on 19/2 that we were still in underwriter queue & not heard anything since! AARRGGHH!!!!

UPDATE 23/2/21:
MA has emailed to say BS happy with paperwork & are instructing the valuation! Something I thought I would never hear......

Congrats!!!

Cam2021

Stamp duty extended! We can sleep a bit better til completion now!

springmagpie

Cam2021 said:

Stamp duty extended! We can sleep a bit better til completion now!

Has this been formally announced? I know there are rumours? 

Cam2021

springmagpie said:

Cam2021 said:

Stamp duty extended! We can sleep a bit better til completion now!

Has this been formally announced? I know there are rumours? 

My MA just told me so I'm guessing it's pretty certain. 

sundance_kid

Hi everyone, I'm a bit late to the party but my journey with Bluestone has been as follows:

Application submitted 15th Dec, lots of paperwork requested, valuation instructed for last Thursday (but surveyor couldn't get in due to dodgy door/lock, so this is now taking place tomorrow.) Due to having some of my deposit gifted I am aware from these forums about the statement of solvency, indemnity insurance etc. My solicitor said she can help with the indemnity. My mum's solicitor said she can help her with the solvency statement but she needs to know whether she has to draw this up herself (apparently this costs more) or do Bluestone supply their own template?  Also does she need a separate statement from her solicitor to say she has received advice over this matter or does the solvency statement cover this? I have seen differing experiences on this site over this matter.

I am going through Mortgage Thoughts (£995) and so far they have been very good. Packager told me that current turnarounds after valuation are 24-48 hours to receive the report back, then a further 24-48 hours to hear whether Bluestone will offer. She said I should therefore expect news towards the end of next week. She also added that Bluestone are not currently escalating any cases. 

Hopeful89

Currently dancing around the flat at the stamp duty news hope everyone feels a little better 

O999111

sundance_kid said:

Hi everyone, I'm a bit late to the party but my journey with Bluestone has been as follows:

Application submitted 15th Dec, lots of paperwork requested, valuation instructed for last Thursday (but surveyor couldn't get in due to dodgy door/lock, so this is now taking place tomorrow.) Due to having some of my deposit gifted I am aware from these forums about the statement of solvency, indemnity insurance etc. My solicitor said she can help with the indemnity. My mum's solicitor said she can help her with the solvency statement but she needs to know whether she has to draw this up herself (apparently this costs more) or do Bluestone supply their own template?  Also does she need a separate statement from her solicitor to say she has received advice over this matter or does the solvency statement cover this? I have seen differing experiences on this site over this matter.

I am going through Mortgage Thoughts (£995) and so far they have been very good. Packager told me that current turnarounds after valuation are 24-48 hours to receive the report back, then a further 24-48 hours to hear whether Bluestone will offer. She said I should therefore expect news towards the end of next week. She also added that Bluestone are not currently escalating any cases. 

Hey, I’m also going through Mortgage Thoughts. Is there anything you would recommend doing to speed up the process? I’m worried that they are going to keep coming back to me asking for more things and at this point it takes another 8-9 working days before BS do anything again.
It has taken over 2 months from you to go from app to valuation which is a long time.
Thanks!

MovingForwards

Stamp duty extension has not been confirmed, it's being announced in the budget.

O999111

It’ll be announced in the budget yet, but is as good as confirmed - extension until end of June.

sundance_kid

O999111 said:

sundance_kid said:

Hi everyone, I'm a bit late to the party but my journey with Bluestone has been as follows:

Application submitted 15th Dec, lots of paperwork requested, valuation instructed for last Thursday (but surveyor couldn't get in due to dodgy door/lock, so this is now taking place tomorrow.) Due to having some of my deposit gifted I am aware from these forums about the statement of solvency, indemnity insurance etc. My solicitor said she can help with the indemnity. My mum's solicitor said she can help her with the solvency statement but she needs to know whether she has to draw this up herself (apparently this costs more) or do Bluestone supply their own template?  Also does she need a separate statement from her solicitor to say she has received advice over this matter or does the solvency statement cover this? I have seen differing experiences on this site over this matter.

I am going through Mortgage Thoughts (£995) and so far they have been very good. Packager told me that current turnarounds after valuation are 24-48 hours to receive the report back, then a further 24-48 hours to hear whether Bluestone will offer. She said I should therefore expect news towards the end of next week. She also added that Bluestone are not currently escalating any cases. 

Hey, I’m also going through Mortgage Thoughts. Is there anything you would recommend doing to speed up the process? I’m worried that they are going to keep coming back to me asking for more things and at this point it takes another 8-9 working days before BS do anything again.
It has taken over 2 months from you to go from app to valuation which is a long time.
Thanks!

 At the beginning they would come back and ask for proof of old loans being paid off, and they wouldn't accept emails for this, so it had to be a letter on headed paper. I tried to get all of this ready in anticipation that they might ask, which helped a bit, but one letter took ages to come through so that held things up a bit.

What slowed my application down a lot was a couple of things; firstly I was told by Mortgage Thoughts that Bluestone wouldn't want a reference from my landlord as I had bank statements showing the rent payments coming out, but they did ask for this in the end (I think because I hadn't quite been in the property for two years so didn't have 24 months of payments to show.) In hindsight, I should have requested this form and got it done incase they asked for it, because when they did it took me 8 days to get my landlord to fill it in and return to me - only he signed it digitally, and five/six days later I heard back that Bluestone wouldn't accept a digital signature. It then took another 7 days for my landlord to fill in a new form for me to upload - and then of course I was at the back of the queue...again.

I was also asked to pay off some mobile phone handsets, which I actually managed to do quite quickly, and luckily the company (virgin) emailed me a headed letter as soon as I rang up and made the payments, so I was able to get these letters over quickly. I would suggest that if you have anything like this outstanding that you pay them off if you can (in anticipation that they might ask you to) and provide headed letters stating the accounts are closed. I also email the packager (Steph) my new payslips as soon as they are issued, plus up to date bank statements - as I think it's highly likely Bstone will ask for these, yet Mortgage Thoughts don't ask me for them until BStone asks them, so at least it saves me running round in a blind panic by having provided them already. Hope that helps.