Bluestone Mortgages

pretzel12

newhome235678 said:

pretzel12 said:

letsago said:

pretzel12 said:

letsago said:

ojh2112 said:

Sorry I meant soft and hard search on file so does this mean it’s still being looked at before first underwriters???? And once valuation goes through Is it pretty Much gonna get offer? 

Hard search went on my file during first underwriter. A valuation is a very good sign it will go to offer. Speak to your MA closely, they should know what is happening and at what stage the application is at. 

So the fact that they booked the valuation is a good sign? We had only soft search on our reports yet our valuation is booked in for next week
our MA told us the next update will be in around 2 weeks time

Yes its a good sign. Please don't forget that processing your application takes time and costs money. They would not keep progressing your application if they had no intention of investing in you. 

That’s really good then! Our MA told us that the underwriter will actually look at our paperwork when the valuation will come back, hence that the next update will be around 3/4 September. I’m just super panicky about getting declined! We haven’t paid for our valuation as we use HTB

Our valuation was not instructed until after the underwriter was happy with all of our documents and forms. We requested that we wanted the valuation done as soo as possible but bluestone refused and advised that they do not instructed the valuation until they are happy with all the documentation and checks. They do one final review of the paper work before the final offer comes out but you do not proceed to the valuation until the underwriter has reviewed all your documents. 

They do not want to risk the application being unsuccessful and then the valuation fee being a waste of money. 

Trust your broker and if you were completely honest with them a the dip stage you’ll have nothing to worry about ☺️. 

Are you using a packager? We are using TFC Homeloans 

MovingForwards

jen14df said:

I have my valuation this week. What do the surveyors look at? Do they stay long? Any other advice on what to expect would be fantastic.

The surveyor looks at the property, glances at the garden and vicinity of the property.
Depending on which survey you have paid for, the surveyor looks at different things.

There's plenty of panicking FTB threads talking about when their surveys are received, you may want to have a read through and see what the replies are.

jen14df

MovingForwards said:

jen14df said:

I have my valuation this week. What do the surveyors look at? Do they stay long? Any other advice on what to expect would be fantastic.

The surveyor looks at the property, glances at the garden and vicinity of the property.
Depending on which survey you have paid for, the surveyor looks at different things.

There's plenty of panicking FTB threads talking about when their surveys are received, you may want to have a read through and see what the replies are.

Thanks for the reply. I don’t know why but mine is free, I’m not with HTB. Initially I thought it would be £300 but my broker said it has come back as £0.

I will have a look at them. Thank you. 

MovingForwards

jen14df said:

MovingForwards said:

jen14df said:

I have my valuation this week. What do the surveyors look at? Do they stay long? Any other advice on what to expect would be fantastic.

The surveyor looks at the property, glances at the garden and vicinity of the property.
Depending on which survey you have paid for, the surveyor looks at different things.

There's plenty of panicking FTB threads talking about when their surveys are received, you may want to have a read through and see what the replies are.

Thanks for the reply. I don’t know why but mine is free, I’m not with HTB. Initially I thought it would be £300 but my broker said it has come back as £0.

I will have a look at them. Thank you. 

For £300 I got a valuation report which looked at the building, commented the plumbing was original (from 1910), said the property will need some maintenance in the future as expected for the age, what the building / roof was made from, that it was a purpose built flat, not above a business, no subsidence, valued at my offer, confirmed the rebuild cost and put a note on to say check I've permission to use the communal walkways to reach my flat / my garden. I also got a few photos of the interior and one of the road / flat. There were other box ticking things like trees in the area, main gas / electric and not oil etc.

Basically just a tick box exercise, nearly matched what the sellers home buyers report said and wasn't any different to what I saw when viewing 😉

Homebuyers report goes into detail about condition of the building / interior and that's what causes FTB to panic!

newhomme20206

MovingForwards said:

jen14df said:

MovingForwards said:

jen14df said:

I have my valuation this week. What do the surveyors look at? Do they stay long? Any other advice on what to expect would be fantastic.

The surveyor looks at the property, glances at the garden and vicinity of the property.
Depending on which survey you have paid for, the surveyor looks at different things.

There's plenty of panicking FTB threads talking about when their surveys are received, you may want to have a read through and see what the replies are.

Thanks for the reply. I don’t know why but mine is free, I’m not with HTB. Initially I thought it would be £300 but my broker said it has come back as £0.

I will have a look at them. Thank you. 

For £300 I got a valuation report which looked at the building, commented the plumbing was original (from 1910), said the property will need some maintenance in the future as expected for the age, what the building / roof was made from, that it was a purpose built flat, not above a business, no subsidence, valued at my offer, confirmed the rebuild cost and put a note on to say check I've permission to use the communal walkways to reach my flat / my garden. I also got a few photos of the interior and one of the road / flat. There were other box ticking things like trees in the area, main gas / electric and not oil etc.

Basically just a tick box exercise, nearly matched what the sellers home buyers report said and wasn't any different to what I saw when viewing 😉

Homebuyers report goes into detail about condition of the building / interior and that's what causes FTB to panic!

Hiya ☺️ I was just wondering how long after you paid for your valuation did it take place? Thank you!

lewis27

My valuation happened almost instantly without me knowing .. on Monday the 17th I was expecting the call to say it’s passed final underwrite and valuation instructed . Instead theRe was a hiccup with our ids being certified properly .. so it was another few days sorting that out and resubmitting .. I was expecting a call yesterday saying that’s all gone through fine now and valuation instructed .. instead they called to say where expecting the offer in 48 hours and the valuation has been done last week on the 18th  already.. I’m using HTB and it was a desktop valuation they carried out the very same day they done the final underwrite .. things seem to go so slow then all of a sudden everything Happens at once ! I’m expecting my written offer any day now and I have 2 CCJS from a few years ago and the odd default.. bluestone do seem a good company despite the high interest rates and give people like us a chance ! If you have passed the DIP and have been honest about income and employment etc then I don’t think you have anything to worry about .. They have seen every negative thing on your credit report at DIP STage .. and not just an electronic check , a human actually glances your report to see exactly what’s on it.. so if you pass the DIP I wouldn’t worry about any negatives on there unless there added to your report after the DIP Date .. the main hold ups never really seem to be bluestone either .. bluestone always quote a time scale ( right now it’s 3-4 days ) and there always pretty good at sticking to it .. it’s the packagers that’s seem to add a day or two on.. they take over a day to get the info back to bluestone and then take a further day to report the info back to you or worse your broker who then takes another day to call you  .. so it seems it’s 6-7 days but generally it’s the packages delaying as there so busy not bluestone .. I was getting information up to 3 days after the date I could see the bluestone checks on my credit file .. 

MovingForwards

@newhomme20206 apparently the same day, looking at when I paid for it and the date of the valuation 🤔 
Just remember, mine was a few months before Covid sent it into lockdown.

newhomme20206

MovingForwards said:

@newhomme20206 apparently the same day, looking at when I paid for it and the date of the valuation 🤔 
Just remember, mine was a few months before Covid sent it into lockdown.

Thank you! Yes that’s true. I don’t know whether I’m being impatient or mines just a bit slower than others! We paid for our valuation on the 12th but it hasn’t been booked in yet! I’ll give it another few days and chase it. Thank you for replying ☺️

jen14df

I had my valuation today. They called to book on Wednesday.

newhomme20206

jen14df said:

I had my valuation today. They called to book on Wednesday.

Thank you for letting me know! I’ll give them a call and see when they’re thinking of booking it in!