Anyone used Aldermore for adverse mortgages?

Penguin6666

Hello all,

I’m back to the start looking for a Mortgage, as a 2 year discharged bankrupt. Rates where looking pretty grim but I noticed that Aldermore have released a new criteria in the past week. They will consider bankrupts 2 years discharged, and even if married they will accept a sole application with just 20% deposit with rate around 4.5.

I thought great, but noticed their reviews for mortgages are awful and a lot of people stating they steal you fees and then decline your mortgage. With them being regulated, can they do that? Anyone else used them and had such problems?

Thanks
D

amnblog

Applications specialise in complex cases.

Complex applications are less likely not to progress.

Complex applicants that cannot progress will be aggrieved.

Aggrieved applicants take to Social Media.

Q.E.D.

Viki2410

Hello,

Not the exact same situation as you but we have adverse credit and went from application to offer in just over 10 days with Aldermore.

They have been great with us and once we are completely finished (new build, so takes time) I will be leaving a positive review as like you I saw all the negatives and panicked.

We have an excellent broker and I think that was one of the biggest pluses for us as he is very thorough and great at chasing for answers etc.

Good luck!

redman1989

Viki2410 wrote: »

Hello,

Not the exact same situation as you but we have adverse credit and went from application to offer in just over 10 days with Aldermore.

They have been great with us and once we are completely finished (new build, so takes time) I will be leaving a positive review as like you I saw all the negatives and panicked.

We have an excellent broker and I think that was one of the biggest pluses for us as he is very thorough and great at chasing for answers etc.

Good luck!

Hi Vikki,

I have an application in with Aldermore at the minute - can you let me know what the times etc were with you?

Our application was accepted last Tuesday & we paid the Valuation fee same day, I've not heard anything since so starting to get worried, I've emailed my MB today to chase for an update. how long after you paid the valuation fee did they book the valuation in? (obviously missing a day due to bank holiday) so on the 4th working day of no update.

Hoping no news is good news..

Viki2410

Hiya,

I think we were a reasonably straightforward case as my default was 18 months old (CC for approx 3k but was settled 2 months after the default was registered) but Aldermore were pretty quick with us.

Like I said above, we have a very good broker who was worth every penny of his fee. He made sure he had absolutely everything they may ask for (6 months payslips, P60, 6 months bank statements, proof of deposit etc) so we never had to go back with additional docs. We are also using Help to Buy so they had everything with that in the same application pack too.

We got the valuation fee included in our deal, but the full application went in on 13th Feb, the valuation was booked for 21st and we had our offer on 22nd.

Like I said I think we were reasonably straightforward as it was just the one (but large) default for me and we both earn good salaries. I would just make sure you have everything to hand they ask for so you don't have any delays in between them asking for things and you sending them

Good luck!

redman1989

Thanks -

Not too different from mine, i had a few defaults all 3+ years old, my wife has 999 credit rating so it's just mine thats bringing it down really!

My Broker said they requested a further wage slip which i provided last week & now she said all the docs are still marked as being processed(?) and will chase up for a reply.

Just getting a bit anxious i go away for 2 weeks and just want this to be sorted or if not i know so i can go elsewhere.

aghhh!

Penguin6666

Thanks for your responses guys. Good luck moving forward and it’s nice to hear that you didn’t encounter the reported problems on TP! It would seem I’m in a slightly worse situation than you, so less likely to progress but we’ll see!

redman1989

If you don't mind me asking what is your adverse history made up off? was it just the 2 year discharge bankruptcy?

Thanks,

JJK18

Hiya,
We had our AIP accepted straight away, mortgage application was accepted and valuation booked, they have just asked for proof of deposit does this sound like things are going well? as we are absolutely dreading getting a knock back as we have reserved our property and have fallen in love with it.

Penguin6666

Yes 2 years discharged bankruptcy

redman1989

Yes i would say so - have you got an update?