Anyone waiting for Aldermore or experience with them?

Amy32

Hi, we applied with Aldermore at the very beginning of January after a decline from another lender. They carried out a soft search and then a hard search on my credit file, and the valuation was carried out yesterday. I was just wondering if anyone has applied with them before, or is currently waiting for a decision and how long you think it may be until we hear back? Our last application took 3 months so time is definitely not on our side! 

Rudi1990

Hiya

I just posted something similar! I have a decision in principle with Aldermore, full application went in on Friday so you are a little way ahead of me 😬 it’s all so nerve wracking isn’t it! 
Seems quite a wait from beginning of January till now - is that their normal turnaround time at the moment? Have they come back and asked for further documents etc since your application went in?
Please keep us updated and fingers crossed you get good news soon!

Beck.x

Amy32

Rudi1990 said:

Hiya

I just posted something similar! I have a decision in principle with Aldermore, full application went in on Friday so you are a little way ahead of me 😬 it’s all so nerve wracking isn’t it! 
Seems quite a wait from beginning of January till now - is that their normal turnaround time at the moment? Have they come back and asked for further documents etc since your application went in?
Please keep us updated and fingers crossed you get good news soon!

Beck.x

Well on their website it says 5 working days for initial underwrite. But I guess that initial underwrite could mean anything. They then instructed the valuation a week before last and this was carried out on Thursday. They valued it as expected but have just asked for further info on the estate charge (new build development) which we have had to ask our solicitor for. 

Good luck with it all! Keep me updated x 

Rudi1990

Sounds promising 😀 yes I’ll keep you updated, good luck.x

Tam_888

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

Amy32

Tam_888 said:

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

We exchanged last Monday and completing this Friday! 

Our application was submitted on the 6th jan, and received the mortgage offer on the 4th feb. Following a horrendous experience with Vida I have been very impressed so far! 

Rudi1990

Amy32 said:

Tam_888 said:

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

We exchanged last Monday and completing this Friday! 

Our application was submitted on the 6th jan, and received the mortgage offer on the 4th feb. Following a horrendous experience with Vida I have been very impressed so far! 

Hi both!
Congratulations Amy! All the stress is finally worth it! Good luck in your new home 😁.
Tam, my full application went in on 28/01 after getting my AIP the previous week. Due to my case being very touch & go regarding adverse and affordability, my MA arranged for the underwriting to be done prior to the valuation (I had to pay the valuation fee on application but MA said that if it failed underwriting then the valuation fee could be reimbursed).
Anyway, after several requests for further documents and a few questions regarding bank account transactions and overdraft usage, my MA called last Friday to say underwriting has been completed and valuation instructed! The valuation is taking place tomorrow and my MA expects to have an update (hopefully the mortgage offer 🤞🏼) by mid-end of next week.
So far, my timescales seem to be in line with Amy’s.
Ill post again once I have any more news, good luck, it’s a very stressful time 😩

LMJ10

Rudi1990 said:

Amy32 said:

Tam_888 said:

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

We exchanged last Monday and completing this Friday! 

Our application was submitted on the 6th jan, and received the mortgage offer on the 4th feb. Following a horrendous experience with Vida I have been very impressed so far! 

Hi both!
Congratulations Amy! All the stress is finally worth it! Good luck in your new home 😁.
Tam, my full application went in on 28/01 after getting my AIP the previous week. Due to my case being very touch & go regarding adverse and affordability, my MA arranged for the underwriting to be done prior to the valuation (I had to pay the valuation fee on application but MA said that if it failed underwriting then the valuation fee could be reimbursed).
Anyway, after several requests for further documents and a few questions regarding bank account transactions and overdraft usage, my MA called last Friday to say underwriting has been completed and valuation instructed! The valuation is taking place tomorrow and my MA expects to have an update (hopefully the mortgage offer 🤞🏼) by mid-end of next week.
So far, my timescales seem to be in line with Amy’s.
Ill post again once I have any more news, good luck, it’s a very stressful time 😩

Hi do you mind me asking what adverse you have? I fit the criteria for Aldermore but have seen posts where they change their mind just because they want to and go against their own criteria? My adverse is quite high. 

Amy32

LMJ10 said:

Rudi1990 said:

Amy32 said:

Tam_888 said:

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

We exchanged last Monday and completing this Friday! 

Our application was submitted on the 6th jan, and received the mortgage offer on the 4th feb. Following a horrendous experience with Vida I have been very impressed so far! 

Hi both!
Congratulations Amy! All the stress is finally worth it! Good luck in your new home 😁.
Tam, my full application went in on 28/01 after getting my AIP the previous week. Due to my case being very touch & go regarding adverse and affordability, my MA arranged for the underwriting to be done prior to the valuation (I had to pay the valuation fee on application but MA said that if it failed underwriting then the valuation fee could be reimbursed).
Anyway, after several requests for further documents and a few questions regarding bank account transactions and overdraft usage, my MA called last Friday to say underwriting has been completed and valuation instructed! The valuation is taking place tomorrow and my MA expects to have an update (hopefully the mortgage offer 🤞🏼) by mid-end of next week.
So far, my timescales seem to be in line with Amy’s.
Ill post again once I have any more news, good luck, it’s a very stressful time 😩

Hi do you mind me asking what adverse you have? I fit the criteria for Aldermore but have seen posts where they change their mind just because they want to and go against their own criteria? My adverse is quite high. 

My adverse is: currently in a DMP with less than 1 year to go. 1 default registered jan 2019. 

Rudi1990

LMJ10 said:

Rudi1990 said:

Amy32 said:

Tam_888 said:

Hi did any of you guys get an update? Our application has just gone on with aldermore yesterday so I was looking to see if i could find how long they've been taking  

We exchanged last Monday and completing this Friday! 

Our application was submitted on the 6th jan, and received the mortgage offer on the 4th feb. Following a horrendous experience with Vida I have been very impressed so far! 

Hi both!
Congratulations Amy! All the stress is finally worth it! Good luck in your new home 😁.
Tam, my full application went in on 28/01 after getting my AIP the previous week. Due to my case being very touch & go regarding adverse and affordability, my MA arranged for the underwriting to be done prior to the valuation (I had to pay the valuation fee on application but MA said that if it failed underwriting then the valuation fee could be reimbursed).
Anyway, after several requests for further documents and a few questions regarding bank account transactions and overdraft usage, my MA called last Friday to say underwriting has been completed and valuation instructed! The valuation is taking place tomorrow and my MA expects to have an update (hopefully the mortgage offer 🤞🏼) by mid-end of next week.
So far, my timescales seem to be in line with Amy’s.
Ill post again once I have any more news, good luck, it’s a very stressful time 😩

Hi do you mind me asking what adverse you have? I fit the criteria for Aldermore but have seen posts where they change their mind just because they want to and go against their own criteria? My adverse is quite high. 

I have a ccj for £250 that drops off in July, a £22 default that drops off in August then a £1800 default that drops off in August 2022, all satisfied over 3 years ago.
Regarding their decision, my mortgage advisor did say they have been known to decline cases that fit criteria possibly being more cautious during the current climate but hopefully you will be ok 🤞🏼

Amy32

Just to say we completed on our home today! Application went in on 6th jan, offered on 4th feb, exchanged 15th feb and completion today! On cloud 9 after several months of stress with another lender.