Bluestone Mortgages

auroch17

sammy32683 said:

auroch17 said:

sammy32683 said:

auroch17 said:

sammy32683 said:

difficultime2022 said:

sammy32683 said:

Hi,

Has anyone gone to bluestone for a remortgage? I am in the process and have found out today they are going to instruct the valuation however have asked for quotes for all the proposed work. 

I hadn't obtained written quotes yet as didn't want to do this as wasn't sure I would be accepted.

Has anyone remortgaged through bluestone for home improvements.

If so did they request quotes and after that what was the rest of the process for the remortgage?

Thanks

Hi 

we are in process of remortgage application but not for renovations, so cannot comment on your enquiry. Although would think you could get a quote from builder fairly swiftly 🤔

Not sure if others on here can share any experiences or advise ?

keep us posted, fingers crossed for you ! 

Unfortunately we were looking at doing a loft conversion and garden landscape. The landscapers quoted no issues. I've phoned 7 local builders and more from trust a trader, all said they won't quote without drawings from an architect, they won't even provide a written estimate, I stated I understand its not binding but they won't without drawings. We are looking at around 1k for drawings, which I don't mind paying if we know the mortgage is going through but on the off chance it doesn't I don't want to have essentially paid that for nothing. 

I'll be sending the landscaper quotes back to my broker next week and say I can't get a builder quote and see what happens. 

The valuation is booked for the 26th so I really don't know. 

Hey sammy32683 how did you get on with your remortgage application? I'm considering doing a similar thing regarding the renovation (my property needs a complete overhaul) as well as paying off my debt management plan if possible. 

If anyone else has some insight that they could share, that would be great also! Thanks!

Unfortunately still ongoing!!

They wanted quotes for all of the major bits of work so that required getting drawings done and then people out to quote. I've sent everything back now and valuation was already completed so just waiting to hear now.

I suggest if you're doing it for major renovations then start the ball rolling with getting quotes. They didn't ask for any further documents after the initial bits so my application has been dragging just because I've had to get these quotes done. 

@sammy32683 Wow that's taken some time then, I hope it starts to move a bit faster for you now!

I've got one quote back from a building/renovation company that encompasses all of the work but none of the work itself should require drawings as such, I wonder if that'll be good enough?

So I was told yesterday the remortgage offer had been approved, so that took roughly a week of being in the final check stage. Still not fully celebrating until conveyancing is done as I know anything can happen. I'm using Bluestones appointed one as they pay for it so will let you know how quick they are as the reviews are either really good or really awful. 

That's great to hear, well done! Fingers crossed for you for the rest of it to go smoothly!

How do people on here pay the customer fees to Bluestone? Do they have them rolled in to the mortgage repayments as opposed to paying them upfront? I've been looking on here but can't seem to find anything.

auroch17

Another question, I've noticed some people saying that they have certain conditions imposed on them along with the offer such as "Credit Card/Loan must be paid off" etc. Do they mean with the funds from the mortgage/remortgage? Or does Bluestone require these forms of credit cleared BEFORE the person receives the money? Slightly confused because one of the reasons I need to remortgage is to clear my DMP! Thanks!

MovingForwards

@auroch17 there's a portal to pay the fees to Bluestone, not everyone is able to have it rolled up into the mortgage.

CC's / loans etc are to be paid off before the funds are released. This won't be applicable to you as the remortgage is to move the debt into the mortgage. There may be a condition about how quickly the debts have to be cleared, perhaps the solicitors have to send the money to the creditors or even you'll have to send proof to the solicitors/ bluestone. It will be detailed in your offer.

auroch17

MovingForwards said:

@auroch17 there's a portal to pay the fees to Bluestone, not everyone is able to have it rolled up into the mortgage.

CC's / loans etc are to be paid off before the funds are released. This won't be applicable to you as the remortgage is to move the debt into the mortgage. There may be a condition about how quickly the debts have to be cleared, perhaps the solicitors have to send the money to the creditors or even you'll have to send proof to the solicitors/ bluestone. It will be detailed in your offer.

Thank you for the insight! It's so confusing all of this mortgage stuff, I've been doing my best to educate myself and this forum has proved priceless but I still get caught out on certain bits. Thank you again! 

afreshstart86

Hi everyone,

so today we finally paid for our Valuation. Has anyone paid for & had a valuation booked recently? If so, how long did it take for them to do the valuation once you had paid? Xx

sammy32683

Our valuation was done 13 days after being instructed but I know others have had it quicker but that was completed the 26th of July so fairly recent. 

afreshstart86

sammy32683 said:

Our valuation was done 13 days after being instructed but I know others have had it quicker but that was completed the 26th of July so fairly recent. 

Oh really…thats quite a while isnt it!? How long after the valuation was completed did you get your offer? 

difficultime2022

Our valuation was instructed on a Friday and was undertaken on the following Wednesday (27th July).  Hope this helps you ☺️

Paul181982

afreshstart86 said:

Hi everyone,

so today we finally paid for our Valuation. Has anyone paid for & had a valuation booked recently? If so, how long did it take for them to do the valuation once you had paid? Xx

Hi, we had two valuations as some work needed doing after the first one. 
But both valuations were done 4 working days after we booked it. 
Is it being valued by Connells? If so I'd suggest calling them every day to try and book it. They will keep saying it's not on their system yet but keep on at them. 

afreshstart86

Paul181982 said:

afreshstart86 said:

Hi everyone,

so today we finally paid for our Valuation. Has anyone paid for & had a valuation booked recently? If so, how long did it take for them to do the valuation once you had paid? Xx

Hi, we had two valuations as some work needed doing after the first one. 
But both valuations were done 4 working days after we booked it. 
Is it being valued by Connells? If so I'd suggest calling them every day to try and book it. They will keep saying it's not on their system yet but keep on at them. 

Ah okay, so u just rang Connells direct & got it sorted that way!! I am so fed up of dealing witn & relying on middle men that id rather call myself! Ill give Bluestone a call today & confirm who they are using. Do you know if Bluestone instruct the survey the same day you pay? X