Thank You- Simply Investment & Aldermore

basra

Before I get started, there are many great mortgage brokers on this site & over the last 18 months I have learnt a lot from reading their posts!

18 months ago I approached simply investment after reading some encouraging comments on here regarding their practice.

My situation was as followed:

6+ defaults all pre 2012.
credit card debt of around 65% of my available credit.

Dave Ham listened to my situation, explained what I needed to maximise my chances of securing an adverse mortgage. So over the last year & half, my partner & I saved heavily until we raised a 10% deposit, all along making sure our credit file was perfect.

In January we received a DIP with Aldermore (90% ltv). We found a new build & reserved the plot in Feb for £232,000.

On Monday morning I informed simply that i would like to make a full application. By Monday afternoon, Adam at Simply had made my application. Aldermore booked the valuation in for Wednesday with Persimmon Homes.

Thursday at 3.30pm we received an electronic copy of the valuation report & by 5.00pm we had a full mortgage offer!!

I could not believe how fast & efficient all parties were (although I understand this may not always be the case)

I'm not a big poster on this forum, however I wanted to show my appreciation & also give a little hope to people who like me had a bad period 4+ years ago but are now on the right track.

So Thank you to Dave Ham, Adam & Administrative Team (Holly & Sarah).

:beer:

Hello_Kitty_2

Great news, well done! I wasn't aware that Aldermore did 90 % LTV (I thought their max was 85%) so that's worth considering.

ACG

Aldermore do 95% although its worth keeping in mind anything above 85% and their criteria is slightly different to the published criteria.

amnblog

They do 95%

Jason_Bourne_2

basra wrote: »

Before I get started, there are many great mortgage brokers on this site & over the last 18 months I have learnt a lot from reading their posts!

18 months ago I approached simply investment after reading some encouraging comments on here regarding their practice.

My situation was as followed:

6+ defaults all pre 2012.
credit card debt of around 65% of my available credit.

Dave Ham listened to my situation, explained what I needed to maximise my chances of securing an adverse mortgage. So over the last year & half, my partner & I saved heavily until we raised a 10% deposit, all along making sure our credit file was perfect.

In January we received a DIP with Aldermore (90% ltv). We found a new build & reserved the plot in Feb for £232,000.

On Monday morning I informed simply that i would like to make a full application. By Monday afternoon, Adam at Simply had made my application. Aldermore booked the valuation in for Wednesday with Persimmon Homes.

Thursday at 3.30pm we received an electronic copy of the valuation report & by 5.00pm we had a full mortgage offer!!

I could not believe how fast & efficient all parties were (although I understand this may not always be the case)

I'm not a big poster on this forum, however I wanted to show my appreciation & also give a little hope to people who like me had a bad period 4+ years ago but are now on the right track.

So Thank you to Dave Ham, Adam & Administrative Team (Holly & Sarah).

:beer:

Well done

What was your interest rate? 4.8?

basra

Jason_Bourne wrote: »

Well done

What was your interest rate? 4.8?

5.99 % 2 year .. short term pain.. all my defaults fall off over the next 18 months so as long as I carry on the same way, I should be able to get a better deal then.

Also I think it helped my partners credit file was clean...

kingstreet

Afternoon, Dave.
I know, just kidding!

mboo29

Congratulation and well done.


I'm in a similar situation have my 10% deposit saved, credit cards all paid off, no missed payments in over 3 years. I also have 3 defaults most recent Nov 2011. If you don't mind me asking, what's a rough value of your defaults?

Westminster

Another thumbs up for Adam and Dave at Simply - they have been extremely helpful with our purchase so far and despite various hiccups with Woolwich, they have been right on it every time. If only they did conveyancing too as my solicitor is gash!

basra

mboo29 wrote: »

Congratulation and well done.


I'm in a similar situation have my 10% deposit saved, credit cards all paid off, no missed payments in over 3 years. I also have 3 defaults most recent Nov 2011. If you don't mind me asking, what's a rough value of your defaults?

The defaults ranged from £100 - £1500 ... all around 2010/2011.

All paid off except one for around £1250.

jo6526_2

Congratulations!

It's a nice feeling, we found out on Friday from aldermore that we were successful. Same as your fixed rate, it's a big payment each month but means that in 2 years it should hopefully reduce.

When are you hoping to move in?