Bluestone mortgage

kerryrobin

hi. Been waiting for our buyers application from bluestone mortgage. It’s been 2 weeks since their application was made and bluestone now asking for more info (to dot the I and cross the t apparently). Anyone had this happen and how long did it take to look at new info (They’ve had this info before apparently Pre covid and before their first application declined due to bluestone withdrawing 85 LTV). We have another buyer waiting in the wings so I know I’m being unfairly impatient but timescales of waiting would be helpful.
thanks in advance. 

ACG

If the application went in pre lockdown then a lot of the work should have been done. 
It should be more getting up to date documents and any final questions. But it can easily take Bluestone 2 weeks to look over documents at the minute, I think anywhere from 2-4 weeks is what they are working on. 

We are part of a group who have some priority with them, if their broker is part of the group you should not be too far off. If not, then you may find it is another week or 2. 

kerryrobin

ACG said:

If the application went in pre lockdown then a lot of the work should have been done. 
It should be more getting up to date documents and any final questions. But it can easily take Bluestone 2 weeks to look over documents at the minute, I think anywhere from 2-4 weeks is what they are working on. 

We are part of a group who have some priority with them, if their broker is part of the group you should not be too far off. If not, then you may find it is another week or 2. 

Thanks for replying. It’s a new application they started July 9th (1st April last bluestone mortgage offer pulled due to LTV going down). They’ve got more deposit now so I guess bluestone need updated info (although don’t know what they’ve been looking at for 2 weeks 🤣). Will just have to be patient and I’m feeling hopeful they’ll get mortgage as surely by now they’d have seen something they didn’t like lol 🤞🤞🤞🤞Wouldn’t be so urgent but we’ve lost 2 houses waiting for them and we’ve got another buyer in the wings who won’t wait forever . Thanks again 👍

newhomme20206

kerryrobin said:

ACG said:

If the application went in pre lockdown then a lot of the work should have been done. 
It should be more getting up to date documents and any final questions. But it can easily take Bluestone 2 weeks to look over documents at the minute, I think anywhere from 2-4 weeks is what they are working on. 

We are part of a group who have some priority with them, if their broker is part of the group you should not be too far off. If not, then you may find it is another week or 2. 

Thanks for replying. It’s a new application they started July 9th (1st April last bluestone mortgage offer pulled due to LTV going down). They’ve got more deposit now so I guess bluestone need updated info (although don’t know what they’ve been looking at for 2 weeks 🤣). Will just have to be patient and I’m feeling hopeful they’ll get mortgage as surely by now they’d have seen something they didn’t like lol 🤞🤞🤞🤞Wouldn’t be so urgent but we’ve lost 2 houses waiting for them and we’ve got another buyer in the wings who won’t wait forever . Thanks again 👍

Hi Kerry we received our DIP on 25th June and I chased our mortgage advisor on Tuesday and he said it’s still in a queue to be looked at by the underwriters so I think we’ll be looking at, at least another 3 weeks until valuation/completion! Hope this helps!