Bluestone Mortgages

Kb21

@Fesully84 oh god that’s terrible. We sent ours in March now in April wonder if ours will be the same 

Cosy2020

Hi, we were given a DiP and we're just looking at our mortgage illustration and have seen that there is a charge for conveyancing fees. Does everyone else have this? We have a separate conveyancing solicitor so surely we don't have to pay Bluestone for this service as well? Or is the charge to cover Bluestone's legal admin etc? We're FTB so getting our heads around the solicitor's admin as well as the mortgage lingo and processes so any advice would be welcomed

Kb21

@cosy2020 I think U have to pay it as bluestones need there own conveyancing reports to 

Cosy2020

Kb21 said:

@cosy2020 I think U have to pay it as bluestones need there own conveyancing reports to 

Thanks! It's so confusing as we asked our mortgage broker who said we wouldn't have to pay it as we're using our own conveyancing sols but the mortgage illustration says you have to pay it. Yet another charge to add to the ever growing list! Oh the joys of buying a home ha!

MovingForwards

Cosy2020 said:

Hi, we were given a DiP and we're just looking at our mortgage illustration and have seen that there is a charge for conveyancing fees. Does everyone else have this? We have a separate conveyancing solicitor so surely we don't have to pay Bluestone for this service as well? Or is the charge to cover Bluestone's legal admin etc? We're FTB so getting our heads around the solicitor's admin as well as the mortgage lingo and processes so any advice would be welcomed

It's strange how they do it, but Bluestone add the proposed conveyancing costs so you can see how much money you're borrowing and need. You don't pay Bluestone for that only the £35 fee for transferring the funds and the mortgage arrangement fee.

Your solicitor will include a fee in their quote for dealing with Bluestone's side of the transfer / purchase into your name.

Have you checked your solicitor is on Bluestone's panel?

Cosy2020

MovingForwards said:

Cosy2020 said:

Hi, we were given a DiP and we're just looking at our mortgage illustration and have seen that there is a charge for conveyancing fees. Does everyone else have this? We have a separate conveyancing solicitor so surely we don't have to pay Bluestone for this service as well? Or is the charge to cover Bluestone's legal admin etc? We're FTB so getting our heads around the solicitor's admin as well as the mortgage lingo and processes so any advice would be welcomed

It's strange how they do it, but Bluestone add the proposed conveyancing costs so you can see how much money you're borrowing and need. You don't pay Bluestone for that only the £35 fee for transferring the funds and the mortgage arrangement fee.

Your solicitor will include a fee in their quote for dealing with Bluestone's side of the transfer / purchase into your name.

Have you checked your solicitor is on Bluestone's panel?

Thanks that's really helpful. I've gone with a solicitor that my house builder and mortgage advisor recommended but I can't see a way online to check if this firm is on Bluestone's panel. I doubt it though as they're a local firm (if that matters). I've read that we could pay an extra fee if our solicitors aren't on their panel though? 

MovingForwards

Cosy2020 said:

MovingForwards said:

Cosy2020 said:

Hi, we were given a DiP and we're just looking at our mortgage illustration and have seen that there is a charge for conveyancing fees. Does everyone else have this? We have a separate conveyancing solicitor so surely we don't have to pay Bluestone for this service as well? Or is the charge to cover Bluestone's legal admin etc? We're FTB so getting our heads around the solicitor's admin as well as the mortgage lingo and processes so any advice would be welcomed

It's strange how they do it, but Bluestone add the proposed conveyancing costs so you can see how much money you're borrowing and need. You don't pay Bluestone for that only the £35 fee for transferring the funds and the mortgage arrangement fee.

Your solicitor will include a fee in their quote for dealing with Bluestone's side of the transfer / purchase into your name.

Have you checked your solicitor is on Bluestone's panel?

Thanks that's really helpful. I've gone with a solicitor that my house builder and mortgage advisor recommended but I can't see a way online to check if this firm is on Bluestone's panel. I doubt it though as they're a local firm (if that matters). I've read that we could pay an extra fee if our solicitors aren't on their panel though? 

There is no online list. I provided a few law firm names to my broker, they contacted Bluestone to check.
You could instruct another firm to act on Bluestone's behalf, but that's adding an extra layer of work for the two firms to speak with each other and the extra cost. 

Also if your firm isn't on their panel, they can apply to go on it.

Kb21

@MovingForwards this is bonkers. I didn’t realise this. Surely most solicitors won’t be on their list as lost people will use local recommended firms. My MA has never used bluestones b4 so the chances of my solicitors being on the list is very slim 

MovingForwards

@Kb21 they might be and provided there's a few partners in the firm they should be able to go on the panel. Don't panic, just drop your MA an email and ask them to check with Bluestone, also email your solicitor and ask them if they are on the panel. As your buying a new build, assuming it's a big building company not a small one, their preferred solicitors will have seen this plenty of times, not only with Bluestone but other lenders.

Kb21

@MovingForwards we aren’t buying a new build we have a older property.