Bluestone Mortgages

Spenny01

Has anyone got to second underwriting and been declined? 

It’s the waiting that’s stressful 

Hopeful89

Spenny01 said:

Hopeful89 said:

Valuation booked in for 1st March guys!! I’m so so happy we’re finally at this stage.
DIP 11th Jan 

What was your timeline from DIP

So DIP 11th Jan, I returned most of my docs back on 14th Jan but because of covid I didn’t get my mothers gift deposit form over to 22nd so let’s say that’s when I THOUGHT I’d submitted full app. Then 3 weeks we heard nothing. Bright star then chased me MA for documents they’d not yet asked for which we returned right away. Another week and a half and then Tues 23rd they requested more docs. Today we had a call from the EA saying valuation booked for 1st March. 

We will send over new bank statements and pay slips on Monday! 

vicki_w83

Our MA just phoned, apparently our mortgage is going through underwriting tomorrow and if successful there’s currently a 9 day turnover on it. I’m guessing if all ok it will go to second underwriting before valuation?!

Samfaye01

vicki_w83 said:

Our MA just phoned, apparently our mortgage is going through underwriting tomorrow and if successful there’s currently a 9 day turnover on it. I’m guessing if all ok it will go to second underwriting before valuation?!

Amazing! When did you put your mortgage application in?

vicki_w83

@Samfaye01 it went in on the 19th, fully packaged by our MA ☺️

Samfaye01

vicki_w83 said:

@Samfaye01 it went in on the 19th, fully packaged by our MA ☺️

19th Feb? Ours went in 8th and heard nothing broker has nessages brightstar - waiting for an answer.  So disheartened. 

vicki_w83

Samfaye01 said:

vicki_w83 said:

@Samfaye01 it went in on the 19th, fully packaged by our MA ☺️

19th Feb? Ours went in 8th and heard nothing broker has nessages brightstar - waiting for an answer.  So disheartened. 

What is bright star? Our MA said he had the date on the system that it’s due to be looked at? Surely they all have that?

Samfaye01

vicki_w83 said:

Samfaye01 said:

vicki_w83 said:

@Samfaye01 it went in on the 19th, fully packaged by our MA ☺️

19th Feb? Ours went in 8th and heard nothing broker has nessages brightstar - waiting for an answer.  So disheartened. 

What is bright star? Our MA said he had the date on the system that it’s due to be looked at? Surely they all have that?

Brighstar is the packer people so the middle man, when we submitted application he said 10 days, next Monday its 4 weeks and no ones looked at our app, broker has chased them so we will await a reply.

Hopeful89

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. 

Did your giftors have to seek legal advice too as well as your indemnity policy? Or was it just the indemnity policy? Thanks for your advice so far! 

Spenny01

vicki_w83 said:

Our MA just phoned, apparently our mortgage is going through underwriting tomorrow and if successful there’s currently a 9 day turnover on it. I’m guessing if all ok it will go to second underwriting before valuation?!

We’ve been getting told that for a week 🤦‍♀️

Hope it does for you good luck xx