Applied for a DIP with aldermore

Gettingolder

Hi,

I have applied for a DIP with aldermore online. I received s email that says "This is a confirmation that you completed your DIP. You have not selected a time to be called back". Does anyone know how long it takes to get a DIP from them?

ACG

Last one I did took about 20-30 minutes. But I had all of the clients details to hand so Icould just get on with it. Chances are they will have loads of blurb to read to you so its worth putting aside an hour.

Gettingolder

Oh dear, hopefully they will call tomorrow. I have heard mixed reviews on them but beggers can't be choosers.

ACG

I like Aldermore, never had an issue with them.
Theyre not the quickest but thats not the end of the world. They have caught up a lot on their backlog over the last couple of weeks.

SuperSaver123

They were demanding the most info from all the lenders we have applied with (4). They asked for P60s, 3 months payslips, bank statements - which is fine and not so unusual but also: previous salary (that I couldnt even remember as my payrise was a while ago), reasons for changes on cc balance, reasons for purchase of a motorbike, childcare arrangements and so on... I think they like writing biography about their apllicants or perhaps it was just us...

GMS

Did you consider using a broker?

Much easier. Let the broker deal with the lender for you.

christologymum

How did you get on with your aldermore dip?

Calmaviva

Hello All,

New to the forum but have been a long time reader.

I also have a DIP with Aldermore, this is the timeline so far:
16th October: Applied for and gained DIP
17th October: Valuation instructed
20th October: Valuation carried out
21st October: Valuation report sent to me (and I assume all other parties) showing that the house we are buying is good to lend on
24th October: Aldermore came back with what I consider to be fairly standard requests (proof of new job/income from employer, reason for taking out some unsecured loans and repaying them on completion) to which I responded via my broker.

Now waiting for what I am guessing is the final decision. My broker is good but often impossible to get hold of. My question for any brokers out there; how likely are Aldermore to honour the DIP now that they have carried out valuation. I understand that valuation is instructed almost immediately but I am (perhaps naively) assuming that they check the case first before going ahead with it and leaving the applicant £300 down if declined? Am I also right in assuming that Aldermore will look through the case manually (with human eyes) before offering a DIP and going on to valuation stage?

Sorry for all of the questions, but it is a very anxious time. We are selling our two other properties (thankfully nearing completion) to buy another house and that is also adding to the stress of the situation. Have been told on numerous occasions that affordability etc is fine, but naturally anxious as it is such a big move.

Any advice appreciated.
Many thanks.