Bluestone Decision in principal

mortgagetakingages

Hi all

Looking for some advice

Last Friday my broker submitted an application to get a decision in principle.  Then on Wednesday the packager asked for better info around defaults and now today I am told that the application has been referred to underwriter!

Can anyone give some advice how long a decision in principle takes with bluestone? This seems to be taking forever!

MovingForwards

The information provided is manually reviewed by a person, not a computer, therefore it can take a few days especially if all the information wasn't provided initially.

mortgagetakingages

If anyone who has actual experience on how long they take please let me know. 

MovingForwards

mortgagetakingages said:

If anyone who has actual experience on how long they take please let me know. 

Mine took a few hours as my broker packaged it as per their requirements.

@ACG is the resident adverse credit broker who posts on MSE.

mortgagetakingages

A few hours! Wow. I have been waiting a week! Maybe I'm just not destined to get a mortgage! I can't even get past the d.i.p! I thought it was just covid but now it's referred to underwriter that feels strange... 

MovingForwards

mortgagetakingages said:

A few hours! Wow. I have been waiting a week! Maybe I'm just not destined to get a mortgage! I can't even get past the d.i.p! I thought it was just covid but now it's referred to underwriter that feels strange... 

They are always referred to an underwriter to manually check everything.

There are quite a few recent threads running about Bluestone and overall they are no quicker / slower than when mine went in from application to offer. 

Covid has delayed things, it's probably just overwhelmed staff at the moment. Try and sit tight.

mortgagetakingages

I'm hanging this is tough though and I have only just started!

fingerscrossed7

mortgagetakingages said:

If anyone who has actual experience on how long they take please let me know. 

It took us 3 weeks and a million questions to get our DIP (pre-covid) and 4 weeks from application to offer.
Hang on in there, it's takes a while but is all worth it!

mortgagetakingages

I have been told I should hear back today with a DIP. But I was told that yesterday and the day before and the day before I think that it means so much to our lives that it makes the waiting and uncertainty so hard! 

mortgagetakingages

Great. Nothing heard back! Mortgage advisor says he will call in the morning because he couldn't get through.... website shows they only available Monday to Friday. Anyone know if they are available on the weekend?