Bluestone Mortgages

canonman

Hope everyone is doing well.  I have been pushing Taylor Wimpy to complete as we have to move out on the 8th. 

I have been told that they need to complete a check before it can be passed of for completion. I assume once this has been done my solicitors can ask Bluestone.. 

1) do bluestone call you for the pre mortgage call ? 
2) can they get the funds any quicker than 5 days? 
3) if it is 5 days is it 5 working days such as if requested Wednesday they would not count the weekend. 


Many thanks 

ACG

1) There needs to be a call between the applicants and Bluestone, if you have not done that yet give them a call on 0800 368 1833 option 3 - you need your reference number BL######## (it will be on your DD mandate and mortgage offer). 
2) They can, but minimum is probably 3 working days and not a guarantee. 
3) I think I answered above. 

Also make sure the signature on your DD matches up with your ID, they are pretty big on that. 

canonman

ACG said:

1) There needs to be a call between the applicants and Bluestone, if you have not done that yet give them a call on 0800 368 1833 option 3 - you need your reference number BL######## (it will be on your DD mandate and mortgage offer). 
2) They can, but minimum is probably 3 working days and not a guarantee. 
3) I think I answered above. 

Also make sure the signature on your DD matches up with your ID, they are pretty big on that. 

Many thanks for this. I will ask my solicitors if they can do it within 3 days as we do need to be out. 

As I'm still Learning about mortgages how does the help to buy get paid. Is that requested by the solicitors or is it paid to the builder from the local help to buy agency. 

Why is there such a long time for the money to come down is it banking or bluestone doing more checks etc. 

Many thanks 

ACG

I have never done HTB so I dont know im afraid. 
That might alter the timeframes. Also the 3 working days I get was a one off, its not a guarantee and there were a few issues on the case, so Bluestone were working with us to make the best of a bad situation. But if you dont ask and all that. 

aszasz

Full app was submitted Monday, bluestone came back with 1 question of prove of settlement as we have EU pasports 2 days no further questions or heard anything is this the normal process we thought they would have asked tonnes of questions we have used simply adverse to package who did pre underwriting. 

remortgage123

canonman said:

ACG said:

1) There needs to be a call between the applicants and Bluestone, if you have not done that yet give them a call on 0800 368 1833 option 3 - you need your reference number BL######## (it will be on your DD mandate and mortgage offer). 
2) They can, but minimum is probably 3 working days and not a guarantee. 
3) I think I answered above. 

Also make sure the signature on your DD matches up with your ID, they are pretty big on that. 

Many thanks for this. I will ask my solicitors if they can do it within 3 days as we do need to be out. 

As I'm still Learning about mortgages how does the help to buy get paid. Is that requested by the solicitors or is it paid to the builder from the local help to buy agency. 

Why is there such a long time for the money to come down is it banking or bluestone doing more checks etc. 

Many thanks 

Hello @ACG, I've read through the forum an you have been very helpful with information,  i have recently submitted a re mortgage application with simply adverse lender is Bluestone mortgages its been 4 day's and today they queried that the income was less in my husbands bank account than as declared to HMRC tax over view and now request a accountants reference, we have explained because his work consists a lot of cash payemnts it can be difficult to bamk everylittle bit but honestly as can be has declared full income to HMRC bamked or not. Do you know what this can mean i mean we wouldnt pay tax on a income not recieved and also any ideas what a accountants reference is. They said they will send this request directly to our accountants. 

Thankyou 

ACG

remortgage123 said:

canonman said:

ACG said:

1) There needs to be a call between the applicants and Bluestone, if you have not done that yet give them a call on 0800 368 1833 option 3 - you need your reference number BL######## (it will be on your DD mandate and mortgage offer). 
2) They can, but minimum is probably 3 working days and not a guarantee. 
3) I think I answered above. 

Also make sure the signature on your DD matches up with your ID, they are pretty big on that. 

Many thanks for this. I will ask my solicitors if they can do it within 3 days as we do need to be out. 

As I'm still Learning about mortgages how does the help to buy get paid. Is that requested by the solicitors or is it paid to the builder from the local help to buy agency. 

Why is there such a long time for the money to come down is it banking or bluestone doing more checks etc. 

Many thanks 

Hello @ACG, I've read through the forum an you have been very helpful with information,  i have recently submitted a re mortgage application with simply adverse lender is Bluestone mortgages its been 4 day's and today they queried that the income was less in my husbands bank account than as declared to HMRC tax over view and now request a accountants reference, we have explained because his work consists a lot of cash payemnts it can be difficult to bamk everylittle bit but honestly as can be has declared full income to HMRC bamked or not. Do you know what this can mean i mean we wouldnt pay tax on a income not recieved and also any ideas what a accountants reference is. They said they will send this request directly to our accountants. 

Thankyou 

Some people do inflate their income for a year in order to get a bigger mortgage. Others might do cash in hand work and then declare a lower income but the year they need a mortgage declare it correctly. 

I cant help but think if your husbands bank account is showing less income than the self assessment its not just a small difference, it must be significant enough to raise their concerns. As an example if you declared an income of £30k a year, you would expect to see £2,500 - £3,000 a month hit the bank account as a minimum. If it were £2,000-£2,500 I dont think that would raise any concerns as a lot of businesses will have quiet and busy periods. If however it is a grand, thats less than half of what you would expect to see. There is no exact science but there are a lot of things we as brokers and the underwriters look for to see if there is anything unusual going on. Unusual does not mean there is a problem, it just means it needs looking at a little more. 

The fact they are asking for an accountants reference is a good thing though, if they were concerned enough, they would have used it as a reason to decline your case. They are going to rely on the accountant to fill out a form and probably confirm that an element of your income is cash but it is always declared correctly. Your accountant will have done a number of these over the years so I would not worry too much. 

remortgage123

ACG said:

remortgage123 said:

canonman said:

ACG said:

1) There needs to be a call between the applicants and Bluestone, if you have not done that yet give them a call on 0800 368 1833 option 3 - you need your reference number BL######## (it will be on your DD mandate and mortgage offer). 
2) They can, but minimum is probably 3 working days and not a guarantee. 
3) I think I answered above. 

Also make sure the signature on your DD matches up with your ID, they are pretty big on that. 

Many thanks for this. I will ask my solicitors if they can do it within 3 days as we do need to be out. 

As I'm still Learning about mortgages how does the help to buy get paid. Is that requested by the solicitors or is it paid to the builder from the local help to buy agency. 

Why is there such a long time for the money to come down is it banking or bluestone doing more checks etc. 

Many thanks 

Hello @ACG, I've read through the forum an you have been very helpful with information,  i have recently submitted a re mortgage application with simply adverse lender is Bluestone mortgages its been 4 day's and today they queried that the income was less in my husbands bank account than as declared to HMRC tax over view and now request a accountants reference, we have explained because his work consists a lot of cash payemnts it can be difficult to bamk everylittle bit but honestly as can be has declared full income to HMRC bamked or not. Do you know what this can mean i mean we wouldnt pay tax on a income not recieved and also any ideas what a accountants reference is. They said they will send this request directly to our accountants. 

Thankyou 

Some people do inflate their income for a year in order to get a bigger mortgage. Others might do cash in hand work and then declare a lower income but the year they need a mortgage declare it correctly. 

I cant help but think if your husbands bank account is showing less income than the self assessment its not just a small difference, it must be significant enough to raise their concerns. As an example if you declared an income of £30k a year, you would expect to see £2,500 - £3,000 a month hit the bank account as a minimum. If it were £2,000-£2,500 I dont think that would raise any concerns as a lot of businesses will have quiet and busy periods. If however it is a grand, thats less than half of what you would expect to see. There is no exact science but there are a lot of things we as brokers and the underwriters look for to see if there is anything unusual going on. Unusual does not mean there is a problem, it just means it needs looking at a little more. 

The fact they are asking for an accountants reference is a good thing though, if they were concerned enough, they would have used it as a reason to decline your case. They are going to rely on the accountant to fill out a form and probably confirm that an element of your income is cash but it is always declared correctly. Your accountant will have done a number of these over the years so I would not worry too much. 

Yes thats understandable from their perspective.  hoepfully as you said the accountant will confirm in this reference then and its a good sign.  Thankyou for the helpful information hoping its positive news soon 🙏

canonman

Hi 

Just wanted to say thankyou to everyone on here for the advice, it really has helped me on the 6 month journey that it has been to get a mortage and im able to write this from my brand new house which i finally completed just before xmas! i really thought getting a mortage was impossible espcialy as i qualifed for £230k on my own and my life has changed! managed to move to a lovely area and off quite a large council estate (some owned) 

Happy New Year! 

danbo1990

Does anyone know if bluestone manually underwrite DIPs? And how long it usually takes? Been waiting a couple of days for our MA to come back to me.