Bluestone Mortgages Valuation

All4242 · 10 March 2019 at 2:52PM

Sorry ment to say haven’t even been told this

ACG · 10 March 2019 at 3:05PM

Bluestone are not the quickest. They have too much business on the go at the minute as they have opened up their criteria and are a little low on staff. Everyone is in the same boat as you - although 6 weeks seems a little long. But I suppose it depends on your underwriter.

All4242 · 10 March 2019 at 3:10PM

I think 6 weeks is way to long. The sellers will be putting the house back on the market Friday if we still have no news and we are heartbroken. I don’t even know where to go from here now. I can’t contact them my self. Our broker never tells us anything only that he is sorry it’s taking so long. All I keeping thinking is that if it was going to be a no would they have already told us. We can see they credit checked us on the 22nd Feb and nothing since

ACG · 10 March 2019 at 4:08PM

If they credit checked you on the 22nd Feb, it has not been 6 weeks?

Your broker can only go off what Bluestone tell him/her. We had a case with them where we were expecting an answer on Monday and it took until Thursday before we got the answer we needed.

Tell your broker that the you need the case reviewed by Thursday otherwise it will fall through. Thursday gives you a days grace. As mentioned you can instruct the valuation before the offer being issued which should buy you a week or 2.

All4242 · 10 March 2019 at 5:01PM

AMG that’s my point the application went in on the 28th January and didn’t get checked by credit scoring till the 22nd February,so what had they done before the 22nd and what have they been doing since the 22nd? We have been on the brokers case every single day demanding answers. We were told we would have a answer 3 week ago this coming Tuesday, nothing. Then again we would have a answer on the Friday nothing. Then last week he told us again we will know Tuesday...nothing then itl defo be Friday, guess what nothing. Do u know if there is anybody at all I can speak to at bluestone. I will be back on to broker tomorrow wanting to know why we have never been told that the valuation could be done at any point & possibly just instruct valuation without any answer just to show the estate agent & the sellers that we are actually doing somthing. It’s a living nightmare.

Livingthedream2019 · 13 March 2019 at 9:55PM

Hi, Just wondering how you got on?

All4242 · 14 March 2019 at 6:47PM

House back up for sale, heartbroken beyond words. Was promised we would have a decision today been promised all week and absolutly livid! A disgrace of a company x

Thrugelmir · 14 March 2019 at 7:09PM

All4242 wrote: »

AMG that’s my point the application went in on the 28th January and didn’t get checked by credit scoring till the 22nd February,so what had they done before the 22nd and what have they been doing since the 22nd?

Depends on the volume of applications that they are processing. If there's been a surge could take some weeks to work it's way through their internal systems. Underwriting isn't a tap which can be turned on or off as required. Specialist lending by it's very nature is far more time consuming. There are only so many working hours in a day. Likewise they'll have a finite amount of money to advance. Mortgages are a totally different marketplace than a volume sale, such as baked beans.

All4242 · 14 March 2019 at 7:20PM

They have had the application just over 7 weeks now and not progressed at all. It’s so upsetting when your promised news on a perticualr day as a house u love is on the line to be told nothing yet again.

Laila18 · 1 April 2019 at 10:50AM

Hi,
I'm after some advise.
Currently going through a mortgage application with bluestone.
AIP was done beginning of March 2019. Still no updates about valuation, we can instruct a valuation but run the risk of losing money if the application is not successful. Our broker has told us he has submitted all paperwork requested nearly 2 weeks ago. On 22nd March we noticed a hard search done on our credit file. We are stressed out with the fact the sellers have said they will remarket the house by midweek, if we don't have a valuation booked in. We don't want to lose the house. We have finally found the right house for us after many years of looking. Our offer was accepted around the end of February 2019. We understand the sellers frustration, but at same time were very frustrated in how long the process is taking with bluestone mortgages. Last information we had was on Friday that the application is with the head underwriter for final checks. Does anyone know how long this process takes?
Would anyone recommend anything else we could do?
We were put through to bluestone because of a default i have on my credit file, that comes off next year. That's all been settled over 5 years ago, also me and my husband are both self-employed.
Thanks in advance for your help and advise

Bluestone Mortgages Valuation

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free