Bluestone Mortgages

alexjared93

MovingForwards said:

feelinghopefull2022 said:

Has anyone been declined a mortgage from bluestone? 

There's been about 5 people declined in the whole of this thread.

Be interesting to know main reasons 

MovingForwards

alexjared93 said:

MovingForwards said:

feelinghopefull2022 said:

Has anyone been declined a mortgage from bluestone? 

There's been about 5 people declined in the whole of this thread.

Be interesting to know main reasons 

Don't take this the wrong way, but get a big cup of tea and start reading. You'll see how many of us have actually been accepted compared to the miniscule amount who haven't.

Think the most recent decline was down to their bank statements https://forums.moneysavingexpert.com/discussion/6113960/bluestone-mortgages/p493

Others were down to affordability or being too high a risk. 
https://forums.moneysavingexpert.com/discussion/6113960/bluestone-mortgages/p360


Elsewhere on the forum:
https://forums.moneysavingexpert.com/discussion/6174265/bluestone-mortgage

They are a good lender and some of us still reply to this thread even though we've had our homes for a couple of years.

feelinghopefull2022

I’ve read the entire thread! What seems interesting to me is how many brokers don’t seem to get their ducks in a row at the start. Ours wanted loads of paperwork etc just to get the DIP, this came through in less tan 24 hours. The only bit of paperwork we then need for application was gifted equity form and it’s ready to go. 

I’m still worried about it being declined but we can easily afford it. We’re getting a £116,000 mortgage on a £280,000 house. 

We are buying the house we currently rent from my parents. So no other house involved just the one! So hopefully it should go through ok but you never know! 

MovingForwards

@feelinghopefull2022 that's the way I kept reading it too, which is bad considering how much some of the brokers charge.

I had my broker for ages before being in a position to buy, when he said which lender I could (99% certain) get a mortgage with, I went on their site, read everything available to brokers and printed the document list off. I worked through that list when collating everything for my broker, which made his life a lot easier and the DIP was almost instantaneous. The mortgage application led to a request for a bank statement that hadn't been produced yet and I sent over a transaction list instead.

Since having my mortgage, I've called them a couple of times to check my outstanding balance and nothing is too much trouble, everyone I've spoken with have been so friendly.

buftymctufty

I was one of the no’s and I think my broker let us down. A couple of simple changes could have got us past the approval door.

Looks like (thanks to family) we can still buy our dream house this month and then transfer to our names in next year or so.

alexjared93

buftymctufty said:

I was one of the no’s and I think my broker let us down. A couple of simple changes could have got us past the approval door.

Looks like (thanks to family) we can still buy our dream house this month and then transfer to our names in next year or so.

Glad to hear things are still working out for you! Is it that bluestone asked to pay off credit card and you then took a loan?

buftymctufty

Yes - broker then said that (after declined) if I’d done it before they sent the application in it would be fine, but the timing of it was iffy. 

feelinghopefull2022

MovingForwards said:

@feelinghopefull2022 that's the way I kept reading it too, which is bad considering how much some of the brokers charge.

I had my broker for ages before being in a position to buy, when he said which lender I could (99% certain) get a mortgage with, I went on their site, read everything available to brokers and printed the document list off. I worked through that list when collating everything for my broker, which made his life a lot easier and the DIP was almost instantaneous. The mortgage application led to a request for a bank statement that hadn't been produced yet and I sent over a transaction list instead.

Since having my mortgage, I've called them a couple of times to check my outstanding balance and nothing is too much trouble, everyone I've spoken with have been so friendly.

We sent our stuff off at 4pm and got a dip by 10:30 the next day. We’ve only been asked to supply our bank statements as they had everything else they needed. Our broker has been amazing! 

How long did it take to get your offer?

MovingForwards

feelinghopefull2022 said:

MovingForwards said:

@feelinghopefull2022 that's the way I kept reading it too, which is bad considering how much some of the brokers charge.

I had my broker for ages before being in a position to buy, when he said which lender I could (99% certain) get a mortgage with, I went on their site, read everything available to brokers and printed the document list off. I worked through that list when collating everything for my broker, which made his life a lot easier and the DIP was almost instantaneous. The mortgage application led to a request for a bank statement that hadn't been produced yet and I sent over a transaction list instead.

Since having my mortgage, I've called them a couple of times to check my outstanding balance and nothing is too much trouble, everyone I've spoken with have been so friendly.

We sent our stuff off at 4pm and got a dip by 10:30 the next day. We’ve only been asked to supply our bank statements as they had everything else they needed. Our broker has been amazing! 

How long did it take to get your offer?

It was about a month, with the Christmas and New Year period too. Had to get an extension due to the pandemic hitting, again an easy process.

My solicitor exchanged before logging off and completed the following morning, I picked my keys up a few hours later. 

Brad92

Hi everyone, 

Our application went in on 2nd December, lots of various different questions asked between now and then, search on our credit file from bluestone on the 7th December. Completely agree how anxious all the waiting is! They asked us last week to show them proof we still had our deposit available so sent that back last week, Friday last thing in the day they have asked for my 3 years accounts from my accountant although they’ve already had my sa302s, so we sent that in today, 

We asked today to confirm where it’s currently at and they have confirmed it’s with bluestones underwriter, we have payed our valuation fee, can anyone share similar experience and know if were close to finding out and if it’s likely to be accepted or not now we’re this far down the line. 

Many thanks 

Brad.