Bluestone Mortgages

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Comments

  • MovingForwards
    MovingForwards Posts: 16,907 Forumite
    First Anniversary First Post Name Dropper Photogenic
    mortgagetakingages said:
    kingstreet said:
    Bluestone only has five year fixed rates available on HTB and we have one to submit with a rate of 7.24%!
    Yes that's what I see on their website. Is there any precedence where those rates online can be negotiated down? (If no mortgage advisor replies I will take it the answer is yes but not allowed to say :wink: )

    That's wishful thinking! Their rates are as advertised on their intermediary section.

    I saw they had gone up a bit from when mine went through!
    Mortgage started 2020, aiming to clear it in 2026.
  • mortgagetakingages
    mortgagetakingages Posts: 244 Forumite
    First Post Name Dropper
    MovingForwards said:
    mortgagetakingages said:
    kingstreet said:
    Bluestone only has five year fixed rates available on HTB and we have one to submit with a rate of 7.24%!
    Yes that's what I see on their website. Is there any precedence where those rates online can be negotiated down? (If no mortgage advisor replies I will take it the answer is yes but not allowed to say :wink: )

    That's wishful thinking! Their rates are as advertised on their intermediary section.

    I saw they had gone up a bit from when mine went through!
    My broker is going to share with me what they can offer when they email it over to him. That infers that its not so fixed but would love to know for sure rather than guessing.  I think I'm going to be disappointed and just be sent a copy of what's available on line though 🙃 
  • fingerscrossed7
    fingerscrossed7 Posts: 31 Forumite
    First Post Name Dropper
    mortgagetakingages said:
    MovingForwards said:
    mortgagetakingages said:
    kingstreet said:
    Bluestone only has five year fixed rates available on HTB and we have one to submit with a rate of 7.24%!
    Yes that's what I see on their website. Is there any precedence where those rates online can be negotiated down? (If no mortgage advisor replies I will take it the answer is yes but not allowed to say :wink: )

    That's wishful thinking! Their rates are as advertised on their intermediary section.

    I saw they had gone up a bit from when mine went through!
    My broker is going to share with me what they can offer when they email it over to him. That infers that its not so fixed but would love to know for sure rather than guessing.  I think I'm going to be disappointed and just be sent a copy of what's available on line though 🙃 
    Their criteria and bands are very clear as set out in their product guide. The rate you qualify for will depend on the product youre going for and which category you fall into based on your adverse credit. 

    They aren't the cheapest but it's generally known that Bluestone are pretty much last chance for those with adverse credit to get a mortgage, so if you're in a position to be able to be picky about rates, you might need to question whether you need to be going with Bluestone at all. 

    Personally, I know their rates are higher... But I'm a higher risk than someone who can qualify for high street or lower rates. I'm very grateful that they've given us the opportunity to be able to move at all, and moving to a dream home is well worth the higher rate for a period of time.


  • mortgagetakingages
    mortgagetakingages Posts: 244 Forumite
    First Post Name Dropper
    totally agree to a point. As you mentioned their rates have increased recently though and part of my road to a better handle on money is to avoid spending any more than i have to. That's not to say I blame them for their rates. Like you said, they are there as last chance and therefore priced accordingly. 
  • letsmove
    letsmove Posts: 9 Forumite
    First Post
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
  • newhomme20206
    newhomme20206 Posts: 26 Forumite
    Name Dropper First Post
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
  • letsmove
    letsmove Posts: 9 Forumite
    First Post
    newhomme20206 said:
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
    Well we were tol it has all ready with underwriters but they needed some more information.My estate agent had asked if they had been updates since but they just keep saying it’s still with underwriters! We don’t won’t to move on to another buyer as process starts again but I don’t know how much longer we can hold on.Do the refuse slot of mortgages does anyone know ? Thank you for the response am really frustrated.
  • newhomme20206
    newhomme20206 Posts: 26 Forumite
    Name Dropper First Post
    letsmove said:
    newhomme20206 said:
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
    Well we were tol it has all ready with underwriters but they needed some more information.My estate agent had asked if they had been updates since but they just keep saying it’s still with underwriters! We don’t won’t to move on to another buyer as process starts again but I don’t know how much longer we can hold on.Do the refuse slot of mortgages does anyone know ? Thank you for the response am really frustrated.
    letsmove said:
    newhomme20206 said:
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
    Well we were tol it has all ready with underwriters but they needed some more information.My estate agent had asked if they had been updates since but they just keep saying it’s still with underwriters! We don’t won’t to move on to another buyer as process starts again but I don’t know how much longer we can hold on.Do the refuse slot of mortgages does anyone know ? Thank you for the response am really frustrated.
    They do ask for more documents we had been asked for more once we submitted our first ones. I’m assuming it won’t be much longer but as I said, all mortgages are taking longer than usual at the moment due to the current circumstances so I can imagine it wouldn’t be much quicker with others. It is really frustrating but it’ll be worth the wait once it’s through! 
  • fortheloveofdogs
    fortheloveofdogs Posts: 3 Newbie
    Name Dropper First Post
    I am well into the process of a mortgage application with bluestone through a broker. I have just been told that as I have been on a mortgage holiday bluestone may decline me altogether. Has anyone any advise or experience on this. My house has been sold and our offer on property accepted. Feeling very stressed now 😞
  • letsmove
    letsmove Posts: 9 Forumite
    First Post
    newhomme20206 said:
    letsmove said:
    newhomme20206 said:
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
    Well we were tol it has all ready with underwriters but they needed some more information.My estate agent had asked if they had been updates since but they just keep saying it’s still with underwriters! We don’t won’t to move on to another buyer as process starts again but I don’t know how much longer we can hold on.Do the refuse slot of mortgages does anyone know ? Thank you for the response am really frustrated.
    letsmove said:
    newhomme20206 said:
    letsmove said:
    My buyers have applied for a mortgage through Bluewater over five weeks ago and they are still waiting for a offer.I have said that I am at the stage of moving on to find a new buyer as my mortgage offer is only valid to October and I do t won’t to waste anymore time.I just wondered how long other people took to get their offer.I don’t won’t to miss out on the house am buying.Thank you in advance am so stressed with this whole process.
    They are taking a little longer at the moment! We had our DIP on 25th June. The case manager has finished looking at it now and has put it in a queue for the underwriter to look at it so we are awaiting the underwriter to look at it and then all being well, book in the valuation! My mortgage advisor did say even the high street lenders are taking as long as bluestone at the moment. 
    Well we were tol it has all ready with underwriters but they needed some more information.My estate agent had asked if they had been updates since but they just keep saying it’s still with underwriters! We don’t won’t to move on to another buyer as process starts again but I don’t know how much longer we can hold on.Do the refuse slot of mortgages does anyone know ? Thank you for the response am really frustrated.
    They do ask for more documents we had been asked for more once we submitted our first ones. I’m assuming it won’t be much longer but as I said, all mortgages are taking longer than usual at the moment due to the current circumstances so I can imagine it wouldn’t be much quicker with others. It is really frustrating but it’ll be worth the wait once it’s through! 
    Thank you for the reply.Fingers crosses we hear some good news this week.
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