Bluestone Mortgages

HopefulFTB1

Littlekay said:

I received this today as my update but I'm confused as we were told it was with the underwriters? And why 'we are pleased to confirm??

We are pleased to confirm that your customer(s) application has been passed to the underwriting team for assessment.

Unfortunately the SLA's are not great at the moment with Bluestone and are working on 13 working days. Hopefully this will reduce and I will let you know when I receive an update.

I had that message last thursday so around 7 working days after the full application was submitted and was told I would get another update this week at some point. On their website their turnaround is 10.5 days and I have been checking everyday and the turnaround time has gone down over the last 2 weeks so I am hoping I don't have a super long wait like some people on here

homeownerdreams

Does anyone actually understand the underwriting days quoted on the website? To me, it implies that they’ll work through the application in those days but that doesn’t seem to ever be the case? 

Jen271626

homeownerdreams said:

Does anyone actually understand the underwriting days quoted on the website? To me, it implies that they’ll work through the application in those days but that doesn’t seem to ever be the case? 

Yeah that's only the time for the initial underwrite. Prior to that your case goes in a queue to be checked by a case manager who checks they have everything the underwriter will need. Then its in the queue for underwriting, once it gets to the underwriter thats the time they take to check it out. Then it moves to missing documents and once they get that itl go to awaiting valuation. Once its been valued etc and its all okay theyl move it to a final underwrite. 

Jen271626

Iv booked the valuation for next Wednesday as I'm away till Monday. Iv got all they need over and I'm going to take it as a positive that we have been progressed to valuation. 

Waitingfornews

Our broker submitted our application directly (no packager) on 14 June. Bluestone picked it up yesterday for the first assessment, which fits with the timescale the website says.  They asked me to clarify a payment on our bank statement at lunchtime today via our broker. Our broker gave them the information straight away and now they have instructed valuation, which I paid for today.  My understanding is that once the valuation is done it goes for a second underwrite.  I have always assumed that the timescale on the website refers to the second underwrite. I might be wrong…it’s been known 🤣

HopefulFTB1

For everyone who is waiting, I think they are ahead of the website as my MA said they are reviewing apps that went to the underwriters on the 17th/18th so I should get an update Friday or Monday 😊

HS1234

Jen271626 said:

Iv booked the valuation for next Wednesday as I'm away till Monday. Iv got all they need over and I'm going to take it as a positive that we have been progressed to valuation. 

Our request for valuation came through today. I quickly paid it and my MA emailed the estate agents to let her know so she can take the house off the market. Unfortunately she’s not responding or coming to the phone. 

HS1234

HopefulFTB1 said:

For everyone who is waiting, I think they are ahead of the website as my MA said they are reviewing apps that went to the underwriters on the 17th/18th so I should get an update Friday or Monday 😊

When was your case handed over to the underwriters? 

impatientscot

Does anyone know what happens as part of the final underwrite? Our broker advised our valuation is booked for tomorrow and worded the emails as "Great news, your application has been agreed subject to satisfactory valuation!" I still have the fear though we could be declined even if everything with the valuation goes okay 

Jen271626

impatientscot said:

Does anyone know what happens as part of the final underwrite? Our broker advised our valuation is booked for tomorrow and worded the emails as "Great news, your application has been agreed subject to satisfactory valuation!" I still have the fear though we could be declined even if everything with the valuation goes okay 

I think they just double check everything over and make sure nothing is missed. Congrats