Aldermore 5 day underwrite?

simk6

Hi Everyone,

Aldermore are currently advertising a 5 day underwrite period for new residential applications - I have kept my eye on this for a few weeks and continues to be updated at a 5 day underwrite scale daily.

My application went in on the night of the 2/3 and all documents submitted on the morning of the 3rd and all those documents had met their submission guidelines.  With them advertising a reasonably fast turn over for underwriting when would i get my advisor to enquire if we have passed the initial underwrite?

Thanks!

ref intermediaries.aldermore.co.uk

CLJ2986

Following with interest, my application went into them on the 5th. My broker said they hope to have an update early next week. 

Lucywrix

Hi, how come you went with aldermore? Did you have bad credit? 

simk6

Lucywrix said:

Hi, how come you went with aldermore? Did you have bad credit? 

Yes - we were referred there as i had at least 9 missed payments in the last 2 years one of my accounts due to family reasons went unpaid for 7 months under £300 so it registered a "6" on my credit report.  I have had a clean financial sheet for 18 months although we found it difficult to get a mortgage with a high street lender.

Hope this helps. 

CLJ2986

Lucywrix said:

Hi, how come you went with aldermore? Did you have bad credit? 

Same for me, no defaults or ccjs but loads of missed payments about 2 years ago. Also only a 10% deposit. Couldn't get an AIP with a high street lender, so changed brokers for an adverse credit broker and they suggested Aldermore. 

Amy32

simk6 said:

Hi Everyone,

Aldermore are currently advertising a 5 day underwrite period for new residential applications - I have kept my eye on this for a few weeks and continues to be updated at a 5 day underwrite scale daily.

My application went in on the night of the 2/3 and all documents submitted on the morning of the 3rd and all those documents had met their submission guidelines.  With them advertising a reasonably fast turn over for underwriting when would i get my advisor to enquire if we have passed the initial underwrite?

Thanks!

ref intermediaries.aldermore.co.uk

So exciting for you! 

We submitted application on 6th jan and got our offer on the 4th feb. At that time it said a 5 day initial underwrite. I don’t know at which stage it all happened but I was pleased with a 4 week turnaround from application to offer given a previous bad experience with another lender who took 4 months to say no!!