FTB Aldermore mortgage timescale

Hannah13409

Hi wondering if anyone could help me with a rough timescale/join me in waiting
AIP - 19/08/2019
Full application - 20/08/2019
Valuation carried out 22/08/2019
Valuation came back as approved 23/08/2019
Husbands final payslip was requested which will be sent
to them this Friday 30/08/2019

After this payslip has been sent in does anyone have any idea how long we will be waiting to hear back ? We had previously been getting the mortgage with precise but after 7 weeks of getting nowhere and them asking ridiculous questions including MA moved us onto Aldermore which has been moving allot faster

Many thanks
Hannah

LawAbiding

Hi Hannah,

You prob seen my timescales on the other Thread.

To be honest, as the Valuation has come back fine and they just waiting for this week payslip. I don't envisage any problems for you from my own experience.

There is a chance you will hear back by end of next week, but highly likely W/C 9th September.

Jane._Worried

Hi Hannah
I’m waiting on decision from Aldermore, we haven’t got to valuation yet though.
DIP 13/08/19
Full app 28/08/19
Heard from MA 02/09/19 underwriters have requested savings account statement showing my name and address as the one I sent doesn’t include that info (internet banking) even though I’ve got proof of deposit that my MA has sent them!
We also went with Precise originally with a different MA and were refused for 1 late payment showing on my husbands bank statement but agree with you Aldermore seem to be quicker.
Please let me know how you get on. Thanks

Hannah13409

Hi Jane,
It is certainly a long process so frustrating find
Myself constantly checking emails 🙁

The Payslip they requested was provided Friday and Monday at 9am I had a call to say it had less hours than usual but we had a holiday that my husband didn’t have authorised holidays for and his overtime had a shortfall so they said at the moment there willing to lend £1000 less than asked for but emailed my husbands boss to confirm my explanation for consideration of full mortgage. He replied Monday and MA said 3 days so should have an update by tomorrow

What bank is that ? Mine is also internet provided but shows name

Hannah

Jane._Worried

Hi Hannah
I bank with Nationwide and my savings accounts were opened on line so I don’t have a pass book!
Lender has seen my bank statements showing money transferred from my current account into savings account but they want a statement from nationwide of my savings account showing my name and address which has to come from head office and will take 10 working days.
I went into my branch yesterday and they have given me a letter confirming my savings account and the amount in there, given this to MA and he’s sent it onto lender. That was yesterday so I guess I won’t hear if that’s sufficient for a couple of days.
MA seems positive.
I seem to think it’s a case of waiting, I’m sure if you can justify any minor discrepancies you’ll be ok and fingers crossed me too.
Let me know when you hear anything.
Jane

Hannah13409

Hi Jane,
Got a call from the MA yesterday to say husbands boss email stated he works on a normal week 39 hours but it’s never a normal week what he meant was they are always working overtime but Aldermore took that as his hours can be below 39 so had to get his boss to email them again clarifying what he meant so MA said probably won’t hear anything until Monday now 🙁
I hope when it’s all over it’s one of those things I can look back on and laugh about but I’m up to high doe

Hannah

Jane.1963

Aldermore are questioning my deposit now, even though I can prove it but I closed an account and moved some money around.
I think they think it looks suspicious, slowly giving up hope!

ArchaeoNeo

Hi, Our MA recommended Aldermore and it’s been pretty fast tbh. We had to produce A lot of evidence but we were told their due diligence is more stringent than high street lenders and hence the time taken. Statements showing proof of deposit, etc. had to have my name on and internet banking statements don’t always show this. It’s a bit of a faff but our valuation was done Friday and offer came through Wednesday morning. I think you’re nearly there ��

Jane.1963

Hi, I hope so.
Hopefully hear something today, it’s frustrating as they are basically querying 2k when I’m putting down 124k deposit.
They know where the rest of the money is, where it’s been so fingers crossed.

Hannah13409

My MA just got back to me they also want savings account statements shown (also nationwide) I have gave them a copy of the savings book which matches the references on statement so hoping this is enough

Did they accept the letter you got from bank ?

Another 3 days to wait again 😭

Jane.1963

Hi Hannah
I think that will be enough.
They haven’t queried the letter I got from Nationwide just the fact I transferred money as was closing that account and there was 2k shortfall (I took out cash for holiday)
Now I think I’ve messed up!
My husband has said if they’re that bloody picky knowing we’ve got deposit, proof of where money has come from etc and we don’t get an offer he’s quite happy to back away and wait 6 months.
Still not heard anything today.
Will post when I hear anything.
Let me know how you get on Hannah.
Jane