Bluestone Mortgages

Fesully84

Kb21 said:

Fesully84 said:

We have had a positive update today, its moved to valuation! I've just paid it online through bluestone - £350.00. How do I know if they will do online or physical? What is the wait from valuation to final stages and offer roughly? We are still hoping to complete 28th May - chances of this? 
Its been a long haul since we put application in on 26/2!! 

If it’s online I will get a refund it only costs £70 online. U won’t know until it’s done. It was a week to offer after valuation but our valuation done within 24hrs of requested. So much quicker if online 

Really really hoping its online! Cross fingers for us! 

Lishabee

So automatic (online) valuation happened... has been down valued by £11,500! It’s definitely undervalued... I think possibly because it’s the biggest on the street and has been extended? 

Apparently they can move our deposit around and we don’t need to bridge the difference as we had a high deposit still under the necessary LTV but I don’t understand how this doesn’t mean we’ll be borrowing more? Even our MA was confused what they meant. Anyway, moving forward... the unknown takes the shine off a little though.

Kb21

Lishabee said:

So automatic (online) valuation happened... has been down valued by £11,500! It’s definitely undervalued... I think possibly because it’s the biggest on the street and has been extended? 

Apparently they can move our deposit around and we don’t need to bridge the difference as we had a high deposit still under the necessary LTV but I don’t understand how this doesn’t mean we’ll be borrowing more? Even our MA was confused what they meant. Anyway, moving forward... the unknown takes the shine off a little though.

The valuation came back £11,500 under what u thought? That’s crazy mine was £990 under big still well within our offer as we had a large 63% deposit and got £20,000 off the asking price. 

Lishabee

Kb21 said:

Lishabee said:

So automatic (online) valuation happened... has been down valued by £11,500! It’s definitely undervalued... I think possibly because it’s the biggest on the street and has been extended? 

Apparently they can move our deposit around and we don’t need to bridge the difference as we had a high deposit still under the necessary LTV but I don’t understand how this doesn’t mean we’ll be borrowing more? Even our MA was confused what they meant. Anyway, moving forward... the unknown takes the shine off a little though.

The valuation came back £11,500 under what u thought? That’s crazy mine was £990 under big still well within our offer as we had a large 63% deposit and got £20,000 off the asking price. 

I know! It was already reasonable for what it is too. My maths isn’t as good as I thought - do they just move the funds around or do they add the amount they’ve knocked it down by to your mortgage? Our deposit is just over 60 percent too so they said it’s ok... but I don’t understand how it doesn’t mean we have to borrow more if our deposit is then lower? 

Lishabee

I think I’ve worked it out now and it all should be ok with the additional money being taken from our original deposit. This is so stressful.

Kb21

Lishabee said:

I think I’ve worked it out now and it all should be ok with the additional money being taken from our original deposit. This is so stressful.

Yes so they will take the money out your deposit add it to the mortgage and you will in effect paying a smaller deposit 

pipsinbrum

Hi, hope everyone is bearing up with the wait 😬
How long from Bluestone being happy with valuation does it take for offer?

Lishabee

pipsinbrum said:

Hi, hope everyone is bearing up with the wait 😬
How long from Bluestone being happy with valuation does it take for offer?

We’ve been told 24-48 hours

Kb21

pipsinbrum said:

Hi, hope everyone is bearing up with the wait 😬
How long from Bluestone being happy with valuation does it take for offer?

Within a week.

j_d1988

So... we finally got our offer today!!! 

Waiting for it in writing tomorrow!