Aldermore Timescale/process

Mortgage_Expert

Hi Liloz, as a mortgage broker I have limited experience of Aldermore. Most of the applications I have done have been limited company buy-to-let. However, I am inclined to remark that as a specialist lender Aldermore employ manual underwriting methods. This can mean it's a bit unpredictable. I have had cases where I thought all matters were concluded, but the underwriter decided they wanted to ask a couple more questions. This was fair enough, and it's not a criticism - they lend where other lenders don't. However, it can be a little stressful for the applicant, unfortunately. The main thing is for your broker to "stay on it" and to keep enquiring with Aldermore on progress, and to respond immediately to any requests. I hope all goes well with it, and all the best.

Jane.1963

I finally got my mortgage offer today via my MA, it’s been a long wait but I’ve now instructed solicitor to carry out searches. We held off instructing searches due to not wanting to be out of pocket “just in case”
I’m so happy, fingers crossed the rest goes to plan.
Liloz hope you hear soon.

Liloz

I’m chuffed for you Jane! Bet that’s a lot of weight off your shoulders now! Hopefully solicitors will be a breeze for you now! According to our MA we are looking at back end of next week for ours to hopefully come through so just have to sit and wait, we are lucky with our solicitors we’ve only paid £150 and get the money back if it falls through so was worth us doing to speed up process! Hopefully not too long until I can celebrate the same as you!!

Jane.1963

Thanks Liloz, it’s is definitely a weight of my shoulders.
Got an email from solicitor today asking what was going on and an hour later my MA confirmed mortgage had been approved so they have now applied for searches within an hour of me paying!
Hope everything works out for you, please post updates and I will too, until I have those keys in my hand I’ll hold off celebrating!

Liloz

So emailed MA today just to see if there had been any update and she said that there was still nothing but would ring them tomorrow as aldermore last week said document would’ve been assessed by close of business Wednesday. So I thanked her and said I would wait for her email tomorrow for an update to her then say “I can’t promise it’ll have been looked at but I’ll still call them” like honestly that does not help situations haha, don’t give me a date to work with then don’t stick with it haha it’s only an email they are looking at saying I had a pay rise 😩 my anxiety during this whole situation is starting to get really bad. Could honestly cry 90% of the time 😔

Jane.1963

Keep positive Liloz, I know it’s easier said than done!
My MA said Aldermore are very busy at the moment.
We were told we would get our offer on the Monday but didn’t come through until the Friday and he was chasing them every day.

Liloz

Update from MA this morning was “good news, hopefully should have offer through by close of business today” so just hoping that is true keeping my fingers crossed!!

Liloz

Another update mortgage offer is finally through wahooo!! Now to ring solicitors to see where we are at and what is needed now fingers crossed it’s a bit of a smoother journey now haha!

Jane.1963

That’s great news Liloz!
So happy for you. We’re both finally there.
We can both celebrate now!!

asm89

Not even applying to Aldermorwe but have read this thread regularly. Congratulations to you both! Good luck with the rest of the process and the move