Aldermore instructed valuation, good sign?

chrislee2810

Hi all,

My mortgage broker has just informed me that aldermore have instructed the valuation and have not as of yet asked for anymore documents, is this a good sign as we are worried stiff?

Thanks

obay

From my experience, Kensington didn't instruct valuation until everything was in order and it took a week to get our offer.

It's a good sign for you.. Congratulations.

ACG

Aldermore I think do a day 1 assessment and look over everything. They instruct the valuation unless there is a huge issue. It does not mean your application has been approved but they do ask for a list of document as soon as the application is submitted. I am assuming your broker has supplied these and no additional documents have been requested?

Typically it is 3 months paylsips, P60, DD mandate and declaration form signing.

chrislee2810

Hi ACG, my broker sent 2 SA302, 3 pay slips, 3 months worth of statements from 2 bank accounts and 2 p60s for me

chrislee2810

Oh, I have also signed the direct debate manadate and the mortgage declaration.

ACG

Looks like they are happy with the basics then. I would put money on you being fine. Aldermore are one of the nicer lenders to deal with. I have been to their offices a few times and met some of the underwriters/case handlers and they all seem decent enough.

chrislee2810

Thanks, I hope we will be ok. Can you tell me what happens after the valuation? By the sounds of things this is the first part of the assessment.

ACG

It will get put back infront of an underwriter - all being well they will issue the offer and then the solicitors will take over.

Aldermore will give you a call before completion just to ask a couple of questions, nothing to worry about though.

chrislee2810

Thanks ACG, it has taken us a long time to get into this position. The valuation is booked for Tuesday next week, hopefully we should hear some news by Friday.