Bluestone Mortgages

hereistohoping

So glad I found this thread as it has covered a few things for me before needing to post. 
We are having to go through Bluestones due to a credit report issue. We have 5% deposit and have reserved a new build ex-show home. We passed the affordability on 75% at almost 7% interest which will leave us with a comfortable disposal still however Bluestone have requested 10% deposit so 70% LTV and will not accept the developers 5% deposit boost either. Our broker is currently working with Bluestone to go back to the original 75% LTV due to the circumstances which occurred for the poor credit history and which will be out of scope by their own tick boxes in 5 weeks time. House not ready for us to move into until December although site have said they will more to Jan if this satisfy's Bluestone. We spoke to our site build sales office today as we are unable to meet their 28 days exchange of contracts until all this mortgage aspect is sorted which they completely get and are being wonderful about however, he said as it was a show home and coming with all the fixtures, fittings, all upgraded extras and fully furnished, when it comes to valuation stage it could be undervalued as he has seen it happen before. Does anyone have any experience with this happening or know the rough timescales for valuations? I have found the same house type on a site 2.5 miles away being up for sale brought 3 years prior which is listed £3K cheaper than what we are buying so it is not a drastic difference and doesn't have any of the extra upgrades but the sales manager now has me in pure panic we will lose this house despite everything. 

2020LS

Our valuation was carried out yesterday. When should I expect valuation report to be done? Does anyone know what the next steps are?

sarahjanelodge

Update. Bluestone have now instructed valuation. Eek im getting excited now. Its taken 7 weeks to get to this stage!! But I still don't want to get too excited cos I know it can still be declined..  🤞🤞🤞

Ruffle13

2020LS said:

Our valuation was carried out yesterday. When should I expect valuation report to be done? Does anyone know what the next steps are?

My valuation is on Friday, I was told by my broker that it's up to 48 hours for the valuation report and then it moves to the offers team and this can taken another 48 hours.

doglover34

does anyone have any timescales for Non FTBs & Packagers - my buyers are pushing and I don't want to instruct/pay my solicitor in case we get a decline.

newton21

sarahjanelodge said:

Update. Bluestone have now instructed valuation. Eek im getting excited now. Its taken 7 weeks to get to this stage!! But I still don't want to get too excited cos I know it can still be declined..  🤞🤞🤞

Ours has been instructed today too, we are booked for Monday. We are a remortgage 🤞🏻🤞🏻

sarahjanelodge

newton21 said:

sarahjanelodge said:

Update. Bluestone have now instructed valuation. Eek im getting excited now. Its taken 7 weeks to get to this stage!! But I still don't want to get too excited cos I know it can still be declined..  🤞🤞🤞

Ours has been instructed today too, we are booked for Monday. We are a remortgage 🤞🏻🤞🏻

We have to contact the estate agent to arrange it through connells (told by bliestone) ill be pushing that tomorrow as they weren't very helpful today when I phoned  

newton21

sarahjanelodge said:

newton21 said:

sarahjanelodge said:

Update. Bluestone have now instructed valuation. Eek im getting excited now. Its taken 7 weeks to get to this stage!! But I still don't want to get too excited cos I know it can still be declined..  🤞🤞🤞

Ours has been instructed today too, we are booked for Monday. We are a remortgage 🤞🏻🤞🏻

We have to contact the estate agent to arrange it through connells (told by bliestone) ill be pushing that tomorrow as they weren't very helpful today when I phoned  

Ohh that’s not good, we had someone ring us and say bluestone have instructed valuation we will come on Monday 

sarahjanelodge

Its been booked for Tuesday next week so its booked anyway . Fingers crossed, we seem to be on the the same time scale now newton21. 

newton21

sarahjanelodge said:

Its been booked for Tuesday next week so its booked anyway . Fingers crossed, we seem to be on the the same time scale now newton21. 

I think our application went in 7 weeks ago, so yes same time scale 🤞🏻 For us both