** aldermore mortgages ** do not use **

seanjohnson88

Ok, So I will keep it brief... If you use Aldermore Mortgages, then you will regret it!! - £750 Later.... (Read the small print)

THEY ACCEPT YOU, AND STRING YOU ALONG FOR WEEKS THEN DROP YOU!! THIS KEEPS THE ACCEPTANCE FIGURES HIGH FOR DIP! Reality is in fact that 11% of their DIP go to the Completion. They have even withdrawn offers days before exchange (I Found this out days after my DIP)


I applied for an Aldermore Mortgage, thinking that they accepted people with an average credit rating. For example, I had 1 default 3 Years before my application... I am on a good income, and was buying a house way below my budget, value & survey was all good. Then I was told I had been accepted and been through ALL underwriting checks, and they were happy with all the information i had sent (wage slips, p60, bank statements, driving license, passport) Was just waiting for the offer..... 3 weeks later, I got an email quoting " Just to keep you updated, an underwriter has your case this morning, and he is happy with all the information provided, and hoping to have your offer out to you shortly. Nothing for 3 days, then an email...
" sorry we have had to decline this application, it can not be appealed, due to final underwriting checks"
Yet Aldermore would or could not give me any reason at all for why. I have tried calling and emailing and no body returns my calls or emails. Last time i called they cut me off!!

** DO NOT USE ALDERMORE MORTGAGES ** ( STICK WITH THE BIG BANKS)
If i can change the view of just one person, then please right below, as I would feel a lot better knowing somebody was not going to go through what I did.

6 weeks later and £750 down... Start renting again.

kingstreet

Is your broker unable to get a reason from his Business Development Manager?

Have there been any recent changes in your credit? It may be worth obtaining your credit files to find out.

Dave_Ham

We used to use Aldermore a fair bit and they were always easier to use than some of their counterpart lenders.

Few weeks ago I spoke to someone there and they said they were really keen to bring in new business, improved underwriting, flexible criteria etc.

Our latest case has been so slow and dates just keep going back and back with no real reason, or empathy when you call through to discuss.

Good lender, I suspect undone by volume since the 95% floodgates opening.

Hopefully they will get their house in order and get back to where they were, as to be honest we are giving a wide berth now unless we absolutely have to.

Not sure how you could have lost £750 though OP?

ACG

I really like aldermore. I have used them quite a bit and never had 1 case declined that has passed the DIP with them.

Theyre not the quickest at the minute, but their staff are working weekends to try and prevent any further backlogs... I have had offers issued on Saturdays before now.

My experience is the complete opposite and would use them more than some of the big banks who do not even know their criteria/processes.

Angry_Bear

From a customer perspective, I took out a 2-year fix with Aldermore which is about to expire. We had no problems at all, and they've been really helpful now when I've called to confirm details (such as redemption figures) so I can arrange a new fix with someone else.

Budgie85

As you are aware I've recently purchased a house with an aldermore mortgage and we haven't had any problems at all and my mortgage advisor used there was really useful.

Jellylegs11

seanjohnson88 wrote: »

Ok, So I will keep it brief... If you use Aldermore Mortgages, then you will regret it!! - £750 Later.... (Read the small print)

THEY ACCEPT YOU, AND STRING YOU ALONG FOR WEEKS THEN DROP YOU!! THIS KEEPS THE ACCEPTANCE FIGURES HIGH FOR DIP! Reality is in fact that 11% of their DIP go to the Completion. They have even withdrawn offers days before exchange (I Found this out days after my DIP)


I applied for an Aldermore Mortgage, thinking that they accepted people with an average credit rating. For example, I had 1 default 3 Years before my application... I am on a good income, and was buying a house way below my budget, value & survey was all good. Then I was told I had been accepted and been through ALL underwriting checks, and they were happy with all the information i had sent (wage slips, p60, bank statements, driving license, passport) Was just waiting for the offer..... 3 weeks later, I got an email quoting " Just to keep you updated, an underwriter has your case this morning, and he is happy with all the information provided, and hoping to have your offer out to you shortly. Nothing for 3 days, then an email...
" sorry we have had to decline this application, it can not be appealed, due to final underwriting checks"
Yet Aldermore would or could not give me any reason at all for why. I have tried calling and emailing and no body returns my calls or emails. Last time i called they cut me off!!

** DO NOT USE ALDERMORE MORTGAGES ** ( STICK WITH THE BIG BANKS)
If i can change the view of just one person, then please right below, as I would feel a lot better knowing somebody was not going to go through what I did.

6 weeks later and £750 down... Start renting again.

Hello just wondering...
Did you find out why? I am on my third week waiting with aldermore. Valuation done, paperwork taken but just waiting.

amnblog

Don't expect any swift offers from Aldermore Jellylegs, unless you are buying a new build.

Nothing much seems to happen in the first 15 - 20 days.

The offers do come though.

Our OP is naturally annoyed and frustrated but I could introduce you to four of our clients who needed what Aldermore could offer and as a result moved into their new homes this month.

All Lender's reject applications, it goes with the territory.

Mortgage_Mark_2

amnblog wrote: »

Don't expect any swift offers from Aldermore Jellylegs, unless you are buying a new build.

Nothing much seems to happen in the first 15 - 20 days.

The offers do come though.

Our OP is naturally annoyed and frustrated but I could introduce you to four of our clients who needed what Aldermore could offer and as a result moved into their new homes this month.

All Lender's reject applications, it goes with the territory.

Definitely agree with this - I had a client's mother on the phone yesterday saying it was 'outrageous' how the application went off three weeks ago and they hadn't had a mortgage offer from Clydesdale Bank yet....!

amnblog

'Outrageous' is a very 20th Century term innit

Mortgage_Mark_2

amnblog wrote: »

'Outrageous' is a very 20th Century term innit

Oh definitely. In fairness, outrageous is a pretty spot on description of Clydesdale's underwriting, but that's not the point...!