Bluestone mortgage offer

ACG

We use Bluestone a lot. They will never be the fastest lender, at the moment they are on a bit of a go slow as they have stopped new applications and furloughed a lot of staff.

Your broker needs to call the agent and just explain what is happening and be a little proactive. I am not a massive fan of estate agents, but one thing I have found is that if you talk to them especially in the current climate they are actually quite understanding. Avoiding them and hoping you get it sorted in time just scares them. 

On the upside, if the house does go back on the market, people can not do viewings unless it is over something like whatsapp and valuations are generally on hold unless you have a 20-30% deposit with most lenders. So by the time they do find a new buyer you should have your offer. 

Ask your broker to call the estate agent and just have a conversation to try and save it for everyones sake. 

Mickey9

ACG, Thanks for the reply. We appreciate that things are a bit slow at the moment and have been pretty patient the whole way,  i.e not handling the broker. I have spoke to the estate agent as he is a friend of a friend so he understands the hold up, but sellers were pushing for a quick sale. Given that the process has been going on this long and valuation has been done. How likely is it that we will be successful in your opinion? Thanks. 

ACG

Bluestone cancelled a couple of our applications last month that were above 75% LTV due to issues with valuations (I am still quite annoyed at that and they are not in my good books at all) but prior to that, we have had a 100% success rate of applications to completions. So I would say if they are coming back and asking questions, they are looking to do the case. 

The vendors can throw their toys out, but realistically nobody is going to be completing quickly at the minute, I have cases with Natwest, Accord, Bluestone, Nationwide and probably a couple of other lenders also. The only lenders seem to be keeping up are the little building societies. They are actually quicker than the high street banks at the minute which I think is a first. 

Mickey9

Cheers ACG. Got our fingers crossed. We had an offer accepted for 220k which is 10k below valuation price of 230k, hope that a good sign. We have 15% deposit. Just need to sit tight and hope for the best. 

jenks48

With Barclays yes but went through a broken. Application was put in the beginning of March and they are the ones that sent an email to him to state that Morgage was approved and offered I paid then for searches they also stated they were having trouble printing the offer pack but pleace inform your customer we are happy to approve and offer the morgage. Then they made a massive blunder that should not have been with me it should have been for someone else even though they had my name and case number on. So yes I am going to fight them my morgage application fits affordability I have no outstanding debts just hours of lost sleep being upset that it was approved and going to be offered then they noticed the mix up.
That is not my fault,  they may be a high street lender but they made a blunder.
My application is being looked at withing their 10 day time phase. If it gets declined then I will put a complaint in and try with another lender.

MovingForwards

@jenks48 world of difference between Bluestone and Barclays.

Hopefully yours will get sorted or you get placed with a better lender.

I only mentioned you were with Barclays to stop @Mickey9 thinking it was Bluestone who messed up for you. 

It's stressful enough going through these types of lender, without seeing posts about mainstream lenders being discussed and not actually saying it's a different lender.

jenks48

Yes I understand think it will be a case of finding another lender...barclays have really let me down. But thank you for the advice..