Bluestone Mortgages

[Deleted User]

SarahYC83 said:

Hi all,
been reading this thread a while now.....so we got our DIP through after 5 days with bluestone and now waiting on mortgage offer, I’m totally panicking thinking it will come back declined! 

Can this happen if you have had a DIP off them? Can they decline you a mortgage? 

Hi sarah, 
I have been checking that but yes you can still be declined for mortgage even though you have been accepted on DIP

polarbear1975

Kellyb88 said:

MrsH2 said:

We finally completed yesterday and I've just spent the 1st night in our new home. It has not been an easy process and Bluestone are insufferable with how slow they can be. 
We only exchanged the day before completion because they kept requesting the same documents from our solicitor to satisfy the conditions of the mortgage. They had been sent them 3 times since 1st March. Even our MA contacted them.
Because of this our solicitor would not exchange as she had never used Bluestone before and didn't want us legally bound if they didn't transfer the funds in time. 
Been on the edge of my seat all week ... but exchanged Thursday and completed Friday.
I tried to ring them myself but they will only speak to MA'S and solicitors. 
Stick with it everyone and good luck 👍

Oh my! We got our offer on the 26th Feb, we had conditions on ours to pay off 2 credit cards and ikano loan, we've sent in proof that we have done this, our solicitor has passed over  over a week ago now, there still waiting to hear back from bluestone before we can exchange contracts, everything is ready to go, our MA and solicitor has now chased bluestone yesterday so hoping to hear something next week, we desperately need a completion date as we have to be out of our rental property before the end of the month 🙈 also one of the conditions was to send over payslips that's dated within 30 days of funds being released.. Now do we send them in before or wait until we have completed? So confused with this. Don't want it to hold things up even more?
Many thanks. 

Re the payslip issue - they will ask to see a payslip that is dated within the last 30 days. So for example if you were due to complete on 1st April they would need to see your March payslip. The bit to be careful about on this is if you have any furlough income shown as they were not including that as income when we when through the process at end of December. 

Hopeful89

MrsH2 said:

We finally completed yesterday and I've just spent the 1st night in our new home. It has not been an easy process and Bluestone are insufferable with how slow they can be. 
We only exchanged the day before completion because they kept requesting the same documents from our solicitor to satisfy the conditions of the mortgage. They had been sent them 3 times since 1st March. Even our MA contacted them.
Because of this our solicitor would not exchange as she had never used Bluestone before and didn't want us legally bound if they didn't transfer the funds in time. 
Been on the edge of my seat all week ... but exchanged Thursday and completed Friday.
I tried to ring them myself but they will only speak to MA'S and solicitors. 
Stick with it everyone and good luck 👍

Congrats x

Hopeful89

Update: finally got our valuation report back today after it was done on 1st March. Bluestone have requested 3 documents we had already sent. I can’t tell if it’s Brightstar not packaging properly or Bluestone not checking properly. Which must mean we are STILL not at underwrite. 

We had our DIP on 11th Jan so pretty frustrated with them. Not giving up hope though but would do things differently with hindsight! 

Cam2021

Seems to be some mixed experiences on here, its definitely not quick going with bluestone and the process is frustrating to say the least.
We had an offer accepted in early December.
Application 15th january.
Documents asked for 3 times.
Hard credit check in 3rd February.
Valuation on 12th March, 48 hours after being requested.
Valuation came back more than our purchase price and verbal offer on 14th March.
Written offer expected tomorrow.
So relieved to get to this point, they seem to have got quicker, good luck everyone! 

Samfaye01

We are still waiting for our 2nd lot of docs to be looked at, we instructed valuation last week and that took place today, what happens next? If they are happy with all docs and valuation has been done is the next step final underwrite?
Thank you

Cam2021

Samfaye01 said:

We are still waiting for our 2nd lot of docs to be looked at, we instructed valuation last week and that took place today, what happens next? If they are happy with all docs and valuation has been done is the next step final underwrite?
Thank you

Depends if you asked them to do the valuation early or they instructed it, they may still be in first underwrite. If they're in the final underwrite it should just be a sign off of the file by a senior underwriter, we were told it's very quick, although it depends on their backlog, but ours was done between Friday afternoon and Sunday evening, a while ago people were waiting 2 weeks but its seems quicker now. Your MA should be able to advise exactly what stage you're af 

Samfaye01

Cam2021 said:

Samfaye01 said:

We are still waiting for our 2nd lot of docs to be looked at, we instructed valuation last week and that took place today, what happens next? If they are happy with all docs and valuation has been done is the next step final underwrite?
Thank you

Depends if you asked them to do the valuation early or they instructed it, they may still be in first underwrite. If they're in the final underwrite it should just be a sign off of the file by a senior underwriter, we were told it's very quick, although it depends on their backlog, but ours was done between Friday afternoon and Sunday evening, a while ago people were waiting 2 weeks but its seems quicker now. Your MA should be able to advise exactly what stage you're af 

Thank you, we are still at first underwrite i presume they asked for docs on 3rd March. We instructed the valuation early hoping to shave a few days off by doing this. 

Palmerl8

So I provided loads at the beginning before applying

p60s 
return from furlough letter
4 months bank statement 
4 payslips 
and I’ve had my verbal offer today.... 4 weeks start to finish almost

my MA has been great! Keep fingers crossed

Firsttimebuyer_04

Still waiting on an update, MA told us today Bluestone have received valuation report so hoping it’s good news as we went for home report value. The waiting game continues now into week 6!