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  • FIRST POST
    • 03egreec
    • By 03egreec 17th Jul 17, 9:31 PM
    • 4Posts
    • 0Thanks
    03egreec
    Aldermore, advice needed
    • #1
    • 17th Jul 17, 9:31 PM
    Aldermore, advice needed 17th Jul 17 at 9:31 PM
    Hi there first time buyers and first time posters here

    Looking for some advice from anyone else in the same situation or with a greater knowledge I've been on to my broker but I think he's sick of hearing my voice, to the point his secutary, goes hi what's your name and as soon as I say my name she goes he's on another line and I don't even get a chance to hear the queuing music

    So my time line so far .....
    Dip aldermore, 95 LTV, 2/6/17
    offer put in and accepted on dream home 10/6/17
    Full applications sent off 11/6/17
    Aldermore then came back asking for more informations
    From me and my partner
    Valuation and home buyer report came back 3/7/17
    Surveyour said he was unable to value the house due to minor damp problem, blocked drain and dished roof tiles
    But has given a reinstatement figure of 10000 over the agreed price, confused
    They then came back and asked for more information ie some thing from Hmrc for me and statements of earnings from my partner,
    Then came back and asked for council tax letter,
    They then came back and asked us to instruct a damp and timber surveyor, so we did and come back with a quote for 995 plus vat. The vendor has agreed to get this sorted prior to completion.
    We sent this over to the broker and then a hour later they
    Have come back to me asking why I have been loaning / gifting my sick mother around 40 pound a month and have heard nothing back from broker for a few days

    Getting really worried..... As we have been on a knife edge for weeks now just seems like endless amounts of paperwork and justification, any one have any idea how this could go ?? My partners got perfect credit score mine getting better had a default around 55 months ago but perfect since then .... Credit builder cards ect I'm self employed 4 years. good accounts. partner full time at a nursery, joint income of around 55k and looking for 130k mortgage

    Sorry for the extra long post

    Any helpers,thoughts,ideas or pointers
    I would be extremely grateful
    Thanks
Page 1
    • ACG
    • By ACG 17th Jul 17, 9:49 PM
    • 15,246 Posts
    • 7,710 Thanks
    ACG
    • #2
    • 17th Jul 17, 9:49 PM
    • #2
    • 17th Jul 17, 9:49 PM
    Has the default been satisfied? If so when?
    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.
    • 03egreec
    • By 03egreec 17th Jul 17, 10:04 PM
    • 4 Posts
    • 0 Thanks
    03egreec
    • #3
    • 17th Jul 17, 10:04 PM
    • #3
    • 17th Jul 17, 10:04 PM
    The default was satisfied around about 6 months later had a rough time just before I set up self employed , I'm really worried about the amount of question and extra documents asked for, thank you for your quick reply
    • 03egreec
    • By 03egreec 17th Jul 17, 10:09 PM
    • 4 Posts
    • 0 Thanks
    03egreec
    • #4
    • 17th Jul 17, 10:09 PM
    • #4
    • 17th Jul 17, 10:09 PM
    Everything is fully paid and neither of us have applied for credit for at least 6 months they did a hard search on the 4th of this month thanks again
    • ACG
    • By ACG 17th Jul 17, 10:16 PM
    • 15,246 Posts
    • 7,710 Thanks
    ACG
    • #5
    • 17th Jul 17, 10:16 PM
    • #5
    • 17th Jul 17, 10:16 PM
    Seems strange then that you have gone to Aldermore - there are 1 or 2 high street lenders I would have tried with first.

    I rarely have issues with Aldermore. They are usually a lender who looks to lend unless they have a good reason not to. The fact they have not declined your case makes me think you will be fine.
    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.
    • 03egreec
    • By 03egreec 17th Jul 17, 10:38 PM
    • 4 Posts
    • 0 Thanks
    03egreec
    • #6
    • 17th Jul 17, 10:38 PM
    • #6
    • 17th Jul 17, 10:38 PM
    HSBC said yes but want a 15 % and loydds wanted high dep too, Barclays my own bank said no out right at dip, broker said I could have gone on the help to buy but I can't buy new build as I work in the industry and see all the horrible going on... If there is a few things wrong with the house or damp drains is it common place for this lender to keep a retention over 1200 worth of work ? Thanks again
    • ACG
    • By ACG 18th Jul 17, 9:08 AM
    • 15,246 Posts
    • 7,710 Thanks
    ACG
    • #7
    • 18th Jul 17, 9:08 AM
    • #7
    • 18th Jul 17, 9:08 AM
    Fair enough.

    In regards to retentions, it will depend on the property and surveyor and lender.
    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.
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