Bluestone Mortgages

MovingForwards

@Slou123 it's more about affordability but generally 4.5x income.

@lhollingworth89 the statement from your solicitor is in relation to the conveyancing eg legal fees, disbursements, stamp duty, any indemnity policies.

Bluestone's fees are payable direct to them.

Broker fees payable directly to the broker.

firsttimebuyers07

Hi we are buying a new build with HTB 

Is it normal for them to instruct a valuation when the application has not even been to the underwriter yet? 

As far as we are aware it’s with a case handler at the minute as we kept getting asked for more information. I feel attached to my scanner lol 
ty xx 

Mortgagestress2022

Hi everyone, I’ve been sat reading all these pages and wanted to ask for any recent information. Application gone in with Bluestone last week after getting a quick DIP. My partners credit file is perfect. I’ve got 4 defaults 1-3 years old, 2 settled in full, 2 being paid monthly with about £3K in total left. No other missed payments on anything and everything paid on time. Broker has said apart from defaults everything good. But I’m a nervous wreck! We are getting evicted from our rental in July and we have 4 children!! Our DIP came back on the product for clear with an 85% LTV, but I’m confused how it’s got to that with the amount of defaults?? 

Has anyone had anything similar? Reading all this has given me hope, but the whole thing is making me ill with stress :-( 
Thanks

MovingForwards

@firsttimebuyers07 underwriting is done as an ongoing thing with a final check done by the UW when everything is in, including the valuation.

@mortgagestress it's how they 'grade' things, down to age and the amount of them. If you look on their website, under the intermediary part, it's all there to look at.

lhollingworth89

MovingForwards said:

@Slou123 it's more about affordability but generally 4.5x income.

@lhollingworth89 the statement from your solicitor is in relation to the conveyancing eg legal fees, disbursements, stamp duty, any indemnity policies.

Bluestone's fees are payable direct to them.

Broker fees payable directly to the broker.

Hi. I’ve not had anything from bluestone to say I need to pay them though. So are they payable or are they included in the 2k Costs they added to the loan?

Mortgagestress2022

MovingForwards said:

@firsttimebuyers07 underwriting is done as an ongoing thing with a final check done by the UW when everything is in, including the valuation.

@mortgagestress it's how they 'grade' things, down to age and the amount of them. If you look on their website, under the intermediary part, it's all there to look at.

@MovingForwards that was where I saw the information and can’t understand how I’ve been put in the better tier. I’m worried as we only have 15% deposit

firsttimebuyers07

Thanks @MovingForwards I spoke to my MA just now and hopefully the bits we sent over are what we need now to move to the next stage but you never know. Bluestones seem to be quite quick in updating the case when they  have been sent over. But I’m 
leaving in the my MA trusted hands 

MovingForwards

@lhollingworth89 sometimes they allow their mortgage arrangement fees to be included in the whole loan amount. To be sure check with your broker or check the schedule as it should say what's included and how the mortgage amount is made up.

@Mortgagestress2022 you would have been assessed at the DIP stage for that as they have a lot of info to do them, unlike mainstream lenders. 

@firsttimebuyers07 if your broker has done everything to the book for bluestone, there's minimal work needed by them and it can go through quickly. Mine was done in a month and that included the winter holidays.

firsttimebuyers07

@MovingForwards that’s great, my MA is brilliant. 

Just waiting now buy hopefully will hear soon 

Slou123

Do bluestones always require credit cards to be paid off or does this also depend on circumstances?