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  • FIRST POST
    • mortgage1st
    • By mortgage1st 4th Jul 18, 1:52 PM
    • 41Posts
    • 1Thanks
    mortgage1st
    Bluestone Mortgages - Application process
    • #1
    • 4th Jul 18, 1:52 PM
    Bluestone Mortgages - Application process 4th Jul 18 at 1:52 PM
    Interested to hear from those who have used or are going through the application process. I am using a broker at the moment. D.I.P. all came through fine, application has now been submitted and we then got asked to provide my partners current mortgage statements, are P60's and send our passports off. Got those back and now awaiting a decision. We placed our offer 2 weeks ago and had a delay due to an issue with the LTV ratio but that's now sorted but we're eager to find out if things are going ahead and when the valuation of the property we plan to purchase will happen. Totally nerve wracking, the broker are also probably annoyed at my constant calls daily for updates but not sure what else I can do, feel a little in the dark at the moment and slightly frustrated.
Page 1
    • ACG
    • By ACG 4th Jul 18, 2:18 PM
    • 17,490 Posts
    • 9,298 Thanks
    ACG
    • #2
    • 4th Jul 18, 2:18 PM
    • #2
    • 4th Jul 18, 2:18 PM
    Valuation gets instructed after the underwriting is completed.
    They are assessing documents for around 10 days, so if you applied less than 10 days ago then it is just a waiting game.

    You can instruct the valuation sooner, but you risk losing the money if they decline your application.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • mortgage1st
    • By mortgage1st 4th Jul 18, 2:33 PM
    • 41 Posts
    • 1 Thanks
    mortgage1st
    • #3
    • 4th Jul 18, 2:33 PM
    • #3
    • 4th Jul 18, 2:33 PM
    Yeah we don't want to do that and our broker hasn't advised us on that either. I spoke to the broker yesterday who said they will call them today and let me know, they didn't I ended up calling them and was told that the Mortgage Adviser I dealt with had chased them and was awaiting an update. I just hate all this chasing.
    Just out of interest is it common to decline after D.I.P. is issued with Bluestone in your experience, it's all I keep thinking is going to happen as I'm just constantly fearing the worst. I'm so stressed out by this I can't concentrate, eat or sleep at the moment!
    • mortgage1st
    • By mortgage1st 4th Jul 18, 6:40 PM
    • 41 Posts
    • 1 Thanks
    mortgage1st
    • #4
    • 4th Jul 18, 6:40 PM
    • #4
    • 4th Jul 18, 6:40 PM
    So we have a slight update, still waiting on the broker coming back to us with an update but we can see a credit search was done on 29 June on our credit report with Experian so hoping that's some kind of good sign at least that some kind of processing has took place. We shall see what they come back with!
    • Poodle34
    • By Poodle34 13th Jul 18, 8:34 PM
    • 95 Posts
    • 53 Thanks
    Poodle34
    • #5
    • 13th Jul 18, 8:34 PM
    • #5
    • 13th Jul 18, 8:34 PM
    Yeah we don't want to do that and our broker hasn't advised us on that either. I spoke to the broker yesterday who said they will call them today and let me know, they didn't I ended up calling them and was told that the Mortgage Adviser I dealt with had chased them and was awaiting an update. I just hate all this chasing.
    Just out of interest is it common to decline after D.I.P. is issued with Bluestone in your experience, it's all I keep thinking is going to happen as I'm just constantly fearing the worst. I'm so stressed out by this I can't concentrate, eat or sleep at the moment!
    Originally posted by mortgage1st
    Just wondered how you'd got on as we are now in the same situation?
    • mortgage1st
    • By mortgage1st 16th Jul 18, 11:40 AM
    • 41 Posts
    • 1 Thanks
    mortgage1st
    • #6
    • 16th Jul 18, 11:40 AM
    • #6
    • 16th Jul 18, 11:40 AM
    Hi, Poolde34 our application was declined by Bluestone and our broker was trying to get it overturned because I had a recent loan with Lending Stream and they're classifying it as a PayDay loan so we've had to go to another lender that accepts this in their criteria. It's all progressing fine with our other lender without any issues at present.
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