Bluestone Mortgages

_AandL_

nhsrelocation said:

_AandL_ said:

Anyone on here taken out a credit card after mortgage offer but before completion? My partner has taken out a small amount credit card, needless to say I’m fuming! Anyone had any experience with this?

No experience with this however I would presume if you have your offer you should be ok? When did you get your offer and when are you completing?

We got our offer at the end of May and we are meant to be completing in August. We’re buying off people buying a new build so depends when that is ready.  I know applying for credit between dip and completion is a no no!

Cosy2020

I think if it’s for a small amount then it’s fine. My friend had his house fall through because he put furniture on finance, his lender did a credit check an hour before releasing funds and they refused to pay out. He lost the house and is still paying off the furniture! Just tell them not to use the card if possible. 

Kb21

_AandL_ said:

Anyone on here taken out a credit card after mortgage offer but before completion? My partner has taken out a small amount credit card, needless to say I’m fuming! Anyone had any experience with this?

I would prob hold  off using it... or paying it off In full straight away. You don’t want to get this far and then be told no. 

_AandL_

@Cosy2020 @Kb21Thabk you for the advice! What if he cancels it? I’m so worried now!

Kb21

_AandL_ said:

@Cosy2020 @Kb21Thabk you for the advice! What if he cancels it? I’m so worried now!

Don’t panic to much just make sure he doesn’t max it out or pay just the minimum cos it will go on his credit rating that’s he’s had credit regardless now. As soon as u apply for a card it flags up sometimes with no damage thou. Tell him to use it wisely and only if needed. If it’s a case of waiting a few months to buy it personally over putting it on the card stick  with the safer option 

Firsttimebuyers2021

Valuation day to day hopefully some good news this week all the solicitors searches came back the weekend so just waiting on the mortgage offer now and we're good to go 

nhsrelocation

Firsttimebuyers2021 said:

Valuation day to day hopefully some good news this week all the solicitors searches came back the weekend so just waiting on the mortgage offer now and we're good to go 

Good luck. You are similar stage in the process to us. We had valuation and then offer last week so hopefully you will have the same. All our searches are done and now just waiting for solicitor to process all the finance side of things but not sure how long this takes. We want to move asap

Sjc2021

Be really careful with Bluestones. Due to the time it took for the mortgage to be sorted, our seller pulled out. We kept the application going until they said that they would only do as a 5 year deal, rather than the 2 year we needed and we had a big deposit. There is no way we would pay the interest rates that long and decided to wait. We are now going through a mainstream lender, that we didn’t think we would be able to. Much more smooth a process and no continuous additional requests for more docs info.
Good luck to everyone whom it goes through, though I wouldn’t trust them until the end and then look closely at the conditions. It seems they are taking full advantage in people who are maybe in a difficult position. Unethical! X

Foreverwaiting123

_AandL_ said:

Anyone on here taken out a credit card after mortgage offer but before completion? My partner has taken out a small amount credit card, needless to say I’m fuming! Anyone had any experience with this?

My MA said don’t do that cos bluestone sometimes run a final credit check before the release the money. I’ve had to increase my deposit so chances are I’ll have to use my cards to cover some expenses like moving and the new furniture I need but not until the keys are in my hand! X

Foreverwaiting123

Sjc2021 said:

Be really careful with Bluestones. Due to the time it took for the mortgage to be sorted, our seller pulled out. We kept the application going until they said that they would only do as a 5 year deal, rather than the 2 year we needed and we had a big deposit. There is no way we would pay the interest rates that long and decided to wait. We are now going through a mainstream lender, that we didn’t think we would be able to. Much more smooth a process and no continuous additional requests for more docs info.
Good luck to everyone whom it goes through, though I wouldn’t trust them until the end and then look closely at the conditions. It seems they are taking full advantage in people who are maybe in a difficult position. Unethical! X

I agree but was bankrupt 4 years ago so have no choice. I was also told they wanted five years instead of two years. The payment to get out of the mortgage earlier than 5 years is 1800 on a sliding scale so less after a year then less again and so on and is based on the amount of mortgage like a percent I think. So anyway having done the maths I decided what I’d save in rent in a year was less than I’d lose to buy my way out of the five year fixed so said yes. Still waiting for offer but I must surely be near the end of the process now. Surely 😌