Aldermore Experience?

Mikey444

Hi All,

Looking for anyone with recent experience using Aldermore.

My situation...

Default Aug 2010 for £180 settled following month
Credit card (£400 outstanding - limit £500) & Next account (£1000 outstanding - £5000 limit) both up to date no missed payments in the last 24 months
PDL use - last July 2013
No other credit
Needing 95% mortgage
Affordability fine - salary £50k loan required £171k over 20 yrs

Refused by Woolwich, hence Broker advised Aldermore.

Aldermore
AIP fine
Full Ap done today via Broker

What's the feeling based on above of this going straight through underwriter?

Many thanks for reading!

ACG

They are the easiest lender I have ever dealt with.
I have never had an AIP that has been agreed get declined at app stage and I do use them a lot.

They could show a lot of the bigger lenders how the process should be.

Downside is rates are not the best.

Mikey444

Cheers ACG, good to hear. The higher % is a price I'm prepared to pay in the short term.

Mikey444

Mortgage offer received!

Timescales:

05/05 - full application made
07/05 - valuation
12/05 - clarification questions from Aldermore
13/05 - broker calls to say application passed
16/05 - mortgage offer received in the post

Chuffed!! :j

ACG

Glad to see they did not come back to make me look daft. Aldermore are the one lender I would bet my house on once it has passed DIP it will go to offer (assuming the broker has done their job and checked bank statements pay slips).

gibs83

Mikey444 wrote: »

Mortgage offer received!

Timescales:

05/05 - full application made
07/05 - valuation
12/05 - clarification questions from Aldermore
13/05 - broker calls to say application passed
16/05 - mortgage offer received in the post

Chuffed!! :j

Also just had an application with Aldermore via a broker and it's went great so far. We heard back the next day from making our full application to them, Mortgage offer came a few days later. We ended up reducing our offer on the house by 11k which was accepted and Aldermore sent the amended pack the next day.

Couldn't get main lender mortgage due me not being in my job long, recent car loan and credit card taken out and partner having missed payments from 4 year ago.


We factored in the higher rate and what that costs over 2 year. We borrowed less than 2x annual income so plenty left to over pay and I am hoping that in 2 year time we can re-mortgage to a much lower rate when we will have more equity in the home.

Reviews were mixed from google although I'd seen on here some good reviews from brokers who deal with them so decided to try them out. No complaints so far.

unicornbunnies

Im in the process of getting my mortgage with aldermore, dip done, mortgage application done, documents in, and valuation done, just waiting on my employer reference (as its a direct payment method so a little odd and they just wanna check hes legit) :P

i read horrendous reviews online but the woman who i deal with has been absolutely lovely always rings me back within a hour or two and super helpful and really does sound like shes on my team lol :P lots of hand-holding required. couldn't be happier with them so far hope my offer comes through as fast as yours did!

move2k15

Also another Aldermore fan here. So far, so good! Plain sailing and very reasonable approach with very quick turnaround for decisions.

Waiting to exchange at the moment so hopefully it will continue this way. Solicitor has said Aldermore need 5 working days minimum - anyone had any experience of this? As exchange slightly delayed (nothing to do with mortgage) I was hoping to push for quicker turnaround...?

amnblog

It's Aldermore month on the forum.

Credit-Crunched

amnblog wrote: »

It's Aldermore month on the forum.

Coming out favourably on Mortgage Brain a lot recently.

Jb75

What a nightmare - not Aldermore- I think its our broker :-/ ....

So... DIP passed, documents given to broker last week.
Phone call today - "Aldermore will only look at documents if they are uploaded within 24 hours of the application going in. Outside of that you have to wait until valuation before they consider them which is Thursday.... then they will look at them. We didn't know and only submitted them last Friday - We are sorry (Broker) - I have never used them before!!!!!

Hoping it comes through for us, but so disappointed in broker just now