Bluestone Mortgages

exizor

exizor said:

Hi, this thread has been very useful and I hope you are all successful.
My application was sent to packager on the 12th August, the packager came back on the 14th and asked me to pay the packager fee. I received questions from Bluestone on the 25th and responded back on the 26th. On the 9th September, I was asked to provide one more months payslips and bank statements.
So far 5 weeks since the AIP and not yet had the full offer or valuation. Hope this helps someone, I will keep you updated.

Update: After speaking to MA on the 18th. He informed me they have completed basic underwriting and will be at the valuation stage on 23rd September. To date 6 weeks from DIP.

MortgageWonders

Rickydewitt said:

ojh2112 said:

newton21 said:

Bluestone have had our application 4 weeks on weds. We’ve had initial case manager look and it went for first underwrite. Hard credit searches were carried out 4th sept.... and literally nothing since then. Our MA has been chasing and chasing and just keeps getting the same ‘no update’ 

Our hard searches were fine 19/8 and offer 2 days ago 

Hey guys, I’ve just logged into my Experian and can see that on 17th September Bluestone did a search and next to it, it says Can impact your Experian credit score’

Does that mean they’ve done a hard search? 

What’s usually next? I’ve paid the valuation fee last week to the packager 🙏🏽

Yes that's a hard search.. The underwriting usually starts about now 

mortgagetakingages

Just a quick update to say that after having a full offer I have checked my latest credit report today two weeks after offer and I have no hard search! Sometimes we get fixated on things but this is evidence that hard search doesn't necessarily mean anything!  

NervousMortgageApplicant

Having had a hard search on 15th Sept, my MA came back yesterday 22nd with further clarification question pertaining to employment history (they wanted to see the contracts, MA said supplying a CV would help also), they wanted to understand why my gas/electric bill was high in a particular month and a 2 year statement showing regular mortgage payments - all submitted on the same day - I guess at this stage its been fairly quick, I had been expecting loads more questions. Do you get any notification when valuation for the property I am buying is instructed by Bluestone?

newton21

NervousMortgageApplicant said:

Having had a hard search on 15th Sept, my MA came back yesterday 22nd with further clarification question pertaining to employment history (they wanted to see the contracts, MA said supplying a CV would help also), they wanted to understand why my gas/electric bill was high in a particular month and a 2 year statement showing regular mortgage payments - all submitted on the same day - I guess at this stage its been fairly quick, I had been expecting loads more questions. Do you get any notification when valuation for the property I am buying is instructed by Bluestone?

Ours too has come back and asked for more info, you will know when valuation is instructed 

MovingForwards

I was told after the valuation had been done, perhaps I never knew before because the EA didn't contact me after the offer was done @NervousMortgageApplicant

Try not to think about it all, your broker wouldn't have placed you with them if he wasn't confident.

NervousMortgageApplicant

MovingForwards said:

I was told after the valuation had been done, perhaps I never knew before because the EA didn't contact me after the offer was done @NervousMortgageApplicant

Try not to think about it all, your broker wouldn't have placed you with them if he wasn't confident.

You have a point. I'd like to think the broker would have means tested my application prior to taking on the case so hopefully all is well. Whether I'm informed after or before is no biggy, as long as valuation is taking place, I guess its a step in the right direction. I'm in a situation right now where Experian have managed to wipe a large part of my credit report, the score remains stable but its not a good look, trying to get them to "fix it" as quick as possible. None of my credit obligations are showing on my report, having enquired about it I am receiving generic responses from a call centre - anyways a little off subject, I also have noted that Bluestone don't pay too much attention to the credit score as such. 

MovingForwards

They don't see the credit score, most UK financial institutions don't, it's the credit history they see and use when assessing applications.

@NervousMortgageApplicant

lewis27

We finally have our offer ( verbal offer with a reference number ) with written offer excepted to follow tomorrow ! DIP first of 1st JULY.. Today’s is 13 weeks to the date I think . An unorganised mess is the only way I can describe bluestone tbh .. requesting the same documents several times , underwriter stating there’s affordability issue when there wasn’t , refused to Double check his underwrite as he was Adament he was correct , they lost track of our application at one point because a specific person was on annual leave so had to go through credit checks multiple times. I have 7 soft searches and 2 hard searches on my report within 13 weeks. In the end the business development manager for bluestone physically re-underwrite our case in my MA office and called the underwriter to tell him to send it to offer .. if it wasn’t for him we would still be in a no win position .. I’m grateful I have a mortgage offer at the end of the day .. but just be prepared you may have to fight certain things .. if your using help to buy you can only go through a packager . Your MA can not contact bluestone only the packager . This makes help to buy difficult to address issue with bluestone . If your not using help to buy your MA can contact bluestone and deal with them directly and resolve things efficiently .. good luck everybody 

iViewTV

How long does it take after paying the surveying fee to get booked in? Said within 24 hours but haven’t heRd anything for 3 days now