Bluestone Mortgages

hopeful370

We got our offer through in writing today!! I’m still in disbelief I can’t beleive it! It was so painless and took a total of 3 weeks from full application to official offer, which is quicker than most banks at the moment! I’m over the moon finally going to be a homeowner! And was much less stressful than I thought it would be! 

MovingForwards

Congratulations! 

livinonaprayer2020

Congratulations! Been watching this thread with baited breath! We are currently 2 weeks into our application. Very similar credit histories 1x ccj settled, 2 defaults in last 36 months. Just so nervous, not sleeping and can’t concentrate! 

Just wish I had a crystal ball! 

hopeful370

Ahh I was the same!! Once we had reserved I didn’t even want to look at the house cause I was so convinced I had no option!! I had a total of 10 defaults in the last 6 years, 2 in the last 3 years plus a telecoms default which they didn’t count, all defaults were small values highest being £497 but a lot of little ones none the less, so it can happen! I was a nervous wreck and thought we had no chance and it’s the longest few weeks ever but I found once they had done the initial underwrite it went pretty quick! They we sent application on 23rd, they first looked at application on 1 July, asked for proof of deposit, and then the valuation was instructed on 6th and carried out on the 9th! We actually found out we had an offer on Friday (10th) so was really quick but I didn’t beleive it until I had it in writing which we got today! So you will get there!! I full beleive if I can get accepted anyone can!! It feels so strange to be on the other side now! 

livinonaprayer2020

It’s just torture waiting with no news. My Nanna always says “no news is good news” but I’m currently struggling to stay positive! I’m the same won’t go to see the house build progress as I don’t want to be disappointed. 

Thanks so much for sharing your experience and giving us hope. Did you go through a broker? 

fingerscrossed7

@hopeful370 CONGRATULATIONS!!!🥳 That's brilliant news! You must be so excited! Do you know when you'll be moving? 

Our application went in on the 24th and we've been advised to expect a decision tomorrow (Eeek!) The length time to process matches yours exactly and like you said, the process so far has been completely painless - not at all what I had anticipated! 

I have a total of 12 defaults in the last 6 years, 2 within the last 12 months, payday loans as recently as the back end of 2019 and missed payments recorded in January.

Here goes a sleepless night worrying about the outcome...

hopeful370

Yes we went through a broker!! He is a miracle worker! I don’t know how he put Up with me he’s had me on the phone in tears and all sorts!! 

You will get there! If there was a major issue you’d probably have heard by now! From what I’ve read online bluestone seem to be really good and cause they manually underwrite the DIP as long as you’re affordability isn’t completely off you’re fine!
the weeks leading up to our full application I was going through bank statements like a nervous wreck as we originally weren’t going to buy for another year but we ended up with the money much sooner so did it last minute, so my bank statements were full of just eat, klarna and amazon! So I was convinced they wouldn’t accept me! I also went over my over draft on one of my accounts in March too and they didn’t question any of it, and I was convinced they would!

@fingerscrossed7 thank you so much!! I am over the moon I still can’t beleive it!! I keep reading the mortgage offer in disbelief 😂😂
if you’ve got this far you’ll be fine! I’m sure they wouldn’t instruct valuation if not, but I know exactly how you feel! Even when my broker said we were accepted I didn’t beleive him u til I saw it in writing!

were buying a new build so move in isn’t till November, which is good in a way as we have time to save but the other part of me just wants to be in now the hard part is over haha!

Itsabouttime

Hi congratulations your story gives me hope. If you don’t mind me asking what’s the LTV on the property? We are looking at trying for a mortgage in December. We still have some debt to pay off and we want to be completely debt free before we try. 

hopeful370

Thank you! Our LTV was 75% we did 5% deposit and 20% HTB loan, I paid off all of my debts Apart from £180 on a nextpay account  and my partner has about £500 left on a credit card , They weren’t bothered about the credit card though or nextpay probably cause they were only small but everything else was paid! 

Itsabouttime

Thank you for replying. We could pay off one of the debts with the money from my house equity but thought it will look better to not have too many things to explain. The defaults are enough already 🤔