Still no offer

Opal_Fruit_2

This post isn't really looking for advice, it's just a way to release my frustrations I guess. We submitted our mortgage application on the 1st April with Aldermore and we are still waiting for an answer. Our completion date is 3 weeks on Friday and I'm starting to get really worried. I haven't seen the mortgage application take this long for anyone else so it's unsettling.

minimike2

What has your broker said?

Opal_Fruit_2

I went in last Wednesday and he said that if we still didn't have an offer in the next 7-10 days he may start thinking something's not quite right. I know there's been an issue with Aldermore wanting 3 lawyers instead of the 2 which my lawyers firm has so I think they have been trying to add another to the panel. I still didn't expect it to take this long and I don't want to assume that because they are adding another lawyer to the panel that they are definitely going to give us an offer.We have given our notice on our flat and all the uncertainty is worrying now.

PDF

Have you exchanged contacts before your mortgage offer??

Opal_Fruit_2

No we haven't exchanged yet but I'm worried that the sellers will start getting pushy soon.

PDF

Glad to hear that, hopefully the sellers will have a bit of patience, after all, it will cause them more grief to line someone else up. Good luck.

David_White

Aldermore is not the quickest of lenders as they are far more prudent than a High Street lender.

We use them on a regular basis and always package cases efficiently, but even so in the last 6 months the average time from application to offer has been 14 working days.

maff39

Glad we're not the only one having this experience with them. We're on day 13 of full application, it's taken nearly a week to get a fax between them and my partners employer and they still can't work out how to get a fax between the two of them.

amnblog

The acceptability of the lawyers should have been dealt with at outset and will cause a delay.

You have not said if valuation has been instructed and completed.

Aldermore have a habit of occasionally being very sluggish to run final checks and issue offer once everything is in.

I suggest you climb all over your broker. Make sure he know that an offer in due out in the next few days and is not just doing nothing about anything.

David_White

amnblog wrote: »

The acceptability of the lawyers should have been dealt with at outset and will cause a delay.

100% agree with this, it's a school boy error not checking if a solicitor is on the panel.

maff39

Hi, what panel is this and how do you check if your solicitor is on it?