Bluestone Mortgages

Hopeful0324

ACG said:

If you have a copy from your broker, why do you need one in the post? I am not sure if they post it out to be honest. 

Elsc04 said:

Hopeful0324 said:

Just wondering if anyone had received their offer from Bluestone via post yet? Have an email copy that was sent via the broker but nothing sent out in the post as yet? 

Hello, we had our offer 5th March via broker portal and solicitor had it too. Not had it in the post… but we have had mortgage deed through to sign so they might just do it that way? Either way, it’s nice reading all these positives and offers coming through :-)

Thank you both It was just a query as I wasn't sure of the process as have never remortgaged before!! Yes our solicitor has had a copy too and we are waiting for documents/forms from them to arrive in the post which I assume may be the mortgage deed/owner occupier form etc for us to sign. 

Hopeful0324

Completion with Bluestone last week Does anyone know if they have an online portal/log in where you can view balance/payments due/make overpayments etc? I assume we will hear from them in writing soon now everything has been finalised?

stephmurph1267

Our application went in last Thursday with bluestone and valuation is booked for next Tuesday 14th, feeling super nervous, but I'm just wondering if its a good things that we are at valuation stage and how much longer it will take for offer? 

xocovermeinsunshine

Hi, also with bluestone. Valuation done today. If bluestone do give us a mortgage offer will all the relevant checks have been done? Will any further checks be done before completion? First time buyers so not sure what to expect. Thank you 

xocovermeinsunshine

Also, have bluestone contacted your employer, if so was this before or after offer? Thank you

stephmurph1267

xocovermeinsunshine said:

Hi, also with bluestone. Valuation done today. If bluestone do give us a mortgage offer will all the relevant checks have been done? Will any further checks be done before completion? First time buyers so not sure what to expect. Thank you 

We're first time buyers too, my mortgage broker told me yesterday that they will do a check to make sure there are no more credit commitments, I had to ask the question because my husband had to re do car insurance and this is what my broker said to me 

"This should be fine as it is cheaper than before. We would always say not to get anything new out in case it affects your affordability, however, in your case, the lower payment benefits your affordability.

 

I would not change anything else, if you can help it, however something like this is unavoidable as it is insurance.

 

The lender will do a check before you complete, however please don’t worry, as things like insurance is not something they would be concerned about, it would more be if you were getting a credit card/loan out etc. " 

We're hoping to complete in thr next 6 weeks. 

And its all very nerve racking tbh 

xocovermeinsunshine

Ah fab thank you for your reply. Hopefully things go smoothly and you complete soon! Did bluestone do an employment reference for you or your partner? My concern is due to the nature of my job my HR department don’t tend to be too forthcoming with information. I have provided bank statements and payslips from Feb 2024 so hoping this will be enough. 

stephmurph1267

xocovermeinsunshine said:

Ah fab thank you for your reply. Hopefully things go smoothly and you complete soon! Did bluestone do an employment reference for you or your partner? My concern is due to the nature of my job my HR department don’t tend to be too forthcoming with information. I have provided bank statements and payslips from Feb 2024 so hoping this will be enough. 

As far as I'm aware they haven't done a reference for either of us - they may well have done but I haven't been told if they did. We got our mortgage offer on the 16th may the valuation was the 14th so I'd assum you'd here soon if you got the mortgage offer. 

As for the checks pre completion I believe from what I've been told and read on Facebook groups and forums that they are a phone call to make sure everything is still the same and to confirm how much your be paying this is usually a week before completion I'm told xx 

Alldogsgotoheaven

hi all, 

thank you so much for sharing your experience. I was so low the other night when I kept getting declined for mortgages, my broker went with blue stone and we have a decision in principle. 

Our broker said as long as affordability checks out we should be ok! My partner and myself have a good wage, so what should I expect they are looking at? Feel nervous with worry, do you know how long this takes to check? 

Any advice is greatly appreciated 

ACG

They basically go through your bank statements and every transaction gets assigned to something - daily coffee could be put under entertainment for example, greggs (if your northern) under eating out and so on. 

I always say most lenders have their quirky bits. They are quite relaxed on the adverse, but affordability they are one of the harsher lenders out there. If you are only doing 3x your income and have no debt, you will be fine. If you are doing 4.5x income and have some debt and kids it might be a bit tight. But worst case scenario in those situations where the broker has misjudged it the loan amount might get reduced a little - it wont be a decline.