Bluestone Mortgages

Kerrylou2

jaboat said:

Kerrylou2 said:

jaboat said:

Mortgage was approved in August. 

Then renegotiated the purchase price with seller as I had a building survey done. 

Bluestone Valuation came back at original purchase price no issues there but new purchase price is 15K below the original.

Now bluestone asked to see the building survey report and told my broker that it’s out of scope.

what does that even mean? 

Anyone had a similar experience ?

If the mortgage has been approved and the property valuated - wouldn’t have thought that would make much difference if you got the price lowered? 

Did they come back to you to say what they mean by out of scope? 

Exactly what I thought. But as the purchase price has dropped by 15k I think that’s what’s concerning them.

Mortgage lender valuation company valued property at purchase price.

my independent valuation valued it lower so I used this as a negotiating tool with vendors.

my valuation/survey is for my benefit only and shouldn’t concern the lender especially if they valuation has come back at original agreed price.

it’s been nearly a week now and still not heard anything it’s really stressing me out bcos I wanted to complete by stamp duty deadline.

Yes I completely agree - that’s surely the reason why they do their own valuation? 

I hope it gets sorted very soon for you.

Kerrylou2

Lastchanceforahome said:

Does anyone know what they ask your employer with reference? I was told because I am zero hours they don't need reference (with Simply) but now the pre underwriters asking for employer email addresses etc

I’ve been asked for email addresses today - I think it’s something standard they ask on their application form, in case they want to request references. Not sure it means they will definitely ask for one.

MovingForwards

Employer reference is to confirm when you started, income, check hours, permanent or temp, possibly whether you're furloughed etc.

Lastchanceforahome

MovingForwards said:

Employer reference is to confirm when you started, income, check hours, permanent or temp, possibly whether you're furloughed etc.

Thanks, they already know it is a zero hrs contract, spoke to Simply and they said they gather all documents Bluestone could possibly want in their pre underwriting stage to reduce delays, often Bluestone don't ask for every single document apparently 

Kerrylou2

Lastchanceforahome said:

MovingForwards said:

Employer reference is to confirm when you started, income, check hours, permanent or temp, possibly whether you're furloughed etc.

Thanks, they already know it is a zero hrs contract, spoke to Simply and they said they gather all documents Bluestone could possibly want in their pre underwriting stage to reduce delays, often Bluestone don't ask for every single document apparently 

This is what I’ve been told - they request it with the application in case they want it when underwriting. Doesn’t necessarily mean they will request a reference. Good luck 🤞🏼 

Lastchanceforahome

Our application has now been fully submitted to Bluestone, passed pre underwriting with Simply although our affordability is  tight. 
Apparently Bluestone currently taking 3 working days to consider pre underwritten applications. 
Has anyone heard of people being refused after full application with Simply? 
We are going to have an anxious weekend I think! 

MovingForwards

Lastchanceforahome said:

Our application has now been fully submitted to Bluestone, passed pre underwriting with Simply although our affordability is  tight. 
Apparently Bluestone currently taking 3 working days to consider pre underwritten applications. 
Has anyone heard of people being refused after full application with Simply? 
We are going to have an anxious weekend I think! 

There's only a couple of people in this thread who've been declined.

You won't do your stress levels any good as all circumstances are different. Keep fingers and toes crossed as you wait to hear.

Icklesaint

Does anyone know if we will have to submit anymore bank statements after exchange and before completion? 

Lottien95

Icklesaint said:

Does anyone know if we will have to submit anymore bank statements after exchange and before completion? 

We had our offer 05/08 and exchanged 
26/08 then completed 17/09 no bank statements requested between that time! 

Icklesaint

Lottien95 said:

Icklesaint said:

Does anyone know if we will have to submit anymore bank statements after exchange and before completion? 

We had our offer 05/08 and exchanged 
26/08 then completed 17/09 no bank statements requested between that time! 

Thank you.  We had our offer on 04/08 and hopefully completing on the 15/10.  Conveyancer has help everything up.  The got out HTB application wrong 3 times, we were supposed to exchange yesterday before HTB expires next week, now we are hoping it’s done on Monday 🤞.  It’s been such a nightmare