Aldermore Timescale/process

Liloz

That’s great! Our valuation was carried out 16/8 but we didn’t find out until beginning of September haha! We have signed our draft contracts with solicitors and have had all of our solicitors searches come back we are literally just waiting for our mortgage offer which should come through pretty quickly once employer replies to aldermore but can never know how long they will take 😔 so for us it’s a case of as soon as mortgage offer is through we can exchange pretty quickly so I just hope they hurry up haha! Have aldermore said where they are at with all your other paperwork?

Jane.1963

My MA said they were happy with all the paperwork and just waiting on valuation, he said he won’t know anything for a couple of days regarding valuation, although everything should be ok he said hold offf instructing solicitors to do searches.
MA told me roughly 2 weeks from valuation to offer.
I’ve got EA on my back now even though valuation was only carried out today.
I think because it’s adverse lending the checks are higher than mainstream but it’s been painfull!
Update when you hear anything and I will too.

Liloz

Fingers crossed for us both then! We have estate agent on our back constantly as well as there is no chain so vendor is pushing for quick turn around and all of our solicitors things are done- we instructed them straight away as if for any reason mortgage falls through we still get out solictors fees back thankfully. So it’s just a case of us chasing employer daily until they’ve sent over last bit of info then hopefully will only take a few days to get mortgage offer!

Safe to say I think I’m going to be bald by the time this is all over it’s been the most stressful experience of my life haha.

Jane.1963

Hi Liloz
Got results back from valuation yesterday afternoon and that’s all fine.
MA has said to still hold off paying for searches which is worrying me, he said he’s chased Aldermore up and he’s waiting on them to come back with timescales.

I’d like to say this is turning my hair grey but it already is haha!

redman1989

Mine took 6 months from DIP to Completion haha but my offer was around 2months?

Aldermore although i read the horror stories were absolutely great with me, i had to extend my mortgage offer a week before it expired and they did in a day, money was released at 9am on the day of completion ( I work for my sols so i could check ) although they were abit slow at the start.

Jane.1963

So today MA rang me and said he was chasing Aldermore, apparently they are looking at valuation report (which was ok) and paperwork ��!♀️ Maybe this afternoon or Monday he should hear something!
The stress is getting to me lol

Liloz

Glad they said your valuation was all fine! We are unfortunately at a stand still and not because of aldermore unfortunately my HR department are holding things up by deciding which team deals with the type of query aldermore have so they’ve been sitting on it for a week and a half now no matter how much chasing has been done. Will be ringing tomorrow to try and get more information and find out what the hell is going on, stressing out completely now haha as estate agent is constantly chasing for updates

Jane.1963

My MA rang me Friday and said he’d spoken to Aldermore and they expected to have a decision by Monday, so he rang them Monday and was told they are very busy due to a lot of BTL mortgages come through? so it will take another couple of days!
He assures me everything is fine.
The wait is awful, I’ve got the old man on my back questioning everything and moaning lol!

Liloz

So aldermore have finally received the last of the information from employer thank god! But MA has said that they’ve said they’ll have assessed it by close of business Wednesday so another long wait to go, but hopefully they’ll have passed it to underwriters by then so the wait isn’t too long.

So ready for this whole process to be over- solicitors are all sorted so just waiting for mortgage offer now then I think it will only take 2-3 weeks to actually get the keys once the offer is through. We are going from renting to buying so still have all our furniture to order so hoping our mortgage offer comes in soon so I can order my sofa before the Christmas deadlines 😩🤞🏽

Hope you hear some good news soon too!

Jane.1963

Still waiting on decision, MA has been told we should get offer by close of business tomorrow... not holding my breath!
Will update when I hear anything.