Bluestone Mortgages

TheBirchwood

mortgagetakingages said:

I heard that some packagers have run out of funds for this month so no more applications from them. Should reduce the back log and time line. 

What do you mean ??

BirchBol

Hi has anyone used bluestone for HTB? Who did you use as a broker? Also, normally jones homes would want their broker to confirm that i can get a mortgage but I know rsc don't cover bluestone mortgages...

mortgagetakingages

TheBirchwood said:

mortgagetakingages said:

I heard that some packagers have run out of funds for this month so no more applications from them. Should reduce the back log and time line. 

What do you mean ??

I mean that each packager gets an allocation of funds from bluestone and at least one packager has used up their allocation this month and any other applications they hold are now in a queue until September. 

This means there is at least one less packager sending applications in to bluestone at this time.

I know this because I nearly had to wait 2 weeks until my mortgage advisor realised what was happening and quickly moved to another packager and within an hour I was going through a new packager and funds were allocated. 

mortgagetakingages

BirchBol said:

Hi has anyone used bluestone for HTB? Who did you use as a broker? Also, normally jones homes would want their broker to confirm that i can get a mortgage but I know rsc don't cover bluestone mortgages...

Yes i am right now. My mortgage advisor is incredible and it is no different than using any other mortgage provider. The expectation of a developer is just to try and get commission. Go through the motions but in the call refuse a credit search so they can only do affordability and not pass your details to any mortgage providers. It takes 5 minutes and they get frustrated but just stuck to your guns. You're the customer, they are not giving you the house for free. 

pretzel12

Hi all

found plenty of useful info here. Our broker sent everything to the packager (TFC Homeloans) on Friday, 14th August. The nerves are kicking in badly! Our broker did said before even getting our DIP, that he has sent our credit files to Bluestone and they will consider our case and we got our DIP within 30 min. I’m so concerned over being declined and the stress is just killing me!

how likely are we to be declined at this stage? We are FTB using HTB! 

mortgagetakingages

It depends on many things but if they said they would consider then you have a chance. 

pretzel12

mortgagetakingages said:

It depends on many things but if they said they would consider then you have a chance. 

All my defaults are under £300 and latest one was September 2018. I had a lot of missed payments on 3 pay day loans which I have paid off this January however, the missed payments occured because the payday loan provider never notified me of those missed payments and outstanding balanced!! I have made a official complain to them and to the Financial Ombudsman so I’m really concerned that Bluestone will still decline us... 

mortgagetakingages

I haven't been here long but one thing i have noticed is people seeking reassurances from strangers in here but they already have reassurances from a far more knowledgeable source such as the mortgage advisor or the mortgage company they are applying to. 

You have been told by bluestone they will consider you and your mortgage advisor recommended you to go with them. If you trust your MA and the information from bluestone then don't over think it. The stress will not make anything go quicker (i speak from experience )

newhomme20206

pretzel12 said:

Hi all

found plenty of useful info here. Our broker sent everything to the packager (TFC Homeloans) on Friday, 14th August. The nerves are kicking in badly! Our broker did said before even getting our DIP, that he has sent our credit files to Bluestone and they will consider our case and we got our DIP within 30 min. I’m so concerned over being declined and the stress is just killing me!

how likely are we to be declined at this stage? We are FTB using HTB! 

Hello, our broker has also put us through TFC home loans. We had our DIP on 25th June and the application was into bluestone on 13th July. We paid for our valuation last week and waiting for it to be booked! But our broker has been helpful and kept us informed the whole way through. Unfortunately like others have said it’s just a case of being patient and waiting. I’m sure your broker wouldn’t have put you through to bluestone if they didn’t have confidence in the application. 

pretzel12

newhomme20206 said:

pretzel12 said:

Hi all

found plenty of useful info here. Our broker sent everything to the packager (TFC Homeloans) on Friday, 14th August. The nerves are kicking in badly! Our broker did said before even getting our DIP, that he has sent our credit files to Bluestone and they will consider our case and we got our DIP within 30 min. I’m so concerned over being declined and the stress is just killing me!

how likely are we to be declined at this stage? We are FTB using HTB! 

Hello, our broker has also put us through TFC home loans. We had our DIP on 25th June and the application was into bluestone on 13th July. We paid for our valuation last week and waiting for it to be booked! But our broker has been helpful and kept us informed the whole way through. Unfortunately like others have said it’s just a case of being patient and waiting. I’m sure your broker wouldn’t have put you through to bluestone if they didn’t have confidence in the application. 

Our application went in on Friday last week and today the underwriter came back with some questions already, which I’m hoping is good news

did they requested any further info from you?
thanks