Aldermore - DIP

Brucema07

Hi

Been reading through SO many threads and reviews, both positive and negative outcomes. Just wondering if anyone is in the same, or similar position to us. Partner - 100% credit record. No late payments etc. Me - 3 defaults, most recent was registered 2 years ago. 6 late payments in 2019 from June - November with British Gas. Broker says this is the only sticking point. Anyone had the same kinda advice and got a positive result?

TIA

Brucema07

Also to add sorry - we were approved for a DIP!

simk6

Similar situation - iv got missed payments atleast 7 in 2019. Partners record perfect approved for a DIP awaiting for our offer hopefully will hear next 2 weeks with an outcome!

Brucema07

Oh really! How long ago did you put your application in? I haven't had confirmation from our MA that ours had gone in yet!

simk6

Brucema07 said:

Oh really! How long ago did you put your application in? I haven't had confirmation from our MA that ours had gone in yet!

Ours went in on the 2/3 our DIP was accepted on the 26/2. I imagine I will possibly get some sort of update next week in regards to the valuation - with me being in Scotland they only require the home report so hopefully next week they request it. From what iv heard from previous posts if they conduct the valuation it's a good sign as they do the initial underwrite first.

Brucema07

Ah ill be watching for an update from you then! Good luck with it. Will you be made aware that the valuation is happening or does it just happen and they take the funds out?

Rudi1990

Hiya
I got my mortgage offer with Aldermore just over a week ago, it took just under 4 weeks from full submission, there were 2 requests for additional information and a question about a payment showing on my statements. Yes, Aldermore usually do the underwriting first but you have to pay the valuation fee on application so the payment going out doesn’t mean the underwriting stage has been approved, they don’t tell you when the valuation is being done, I’m in touch with the lady whose house I’m buying and she let me know it was booked.

Brucema07

Rudi1990 said:

Hiya
I got my mortgage offer with Aldermore just over a week ago, it took just under 4 weeks from full submission, there were 2 requests for additional information and a question about a payment showing on my statements. Yes, Aldermore usually do the underwriting first but you have to pay the valuation fee on application so the payment going out doesn’t mean the underwriting stage has been approved, they don’t tell you when the valuation is being done, I’m in touch with the lady whose house I’m buying and she let me know it was booked.

Congratulations!! 
Without sounding nosey - was your credit background similar to mine at all? With the missed payments? I've read the criteria so much and it doesn't mention missed payments from what I can see. It just says about CCJs/defaults/repossessions etc
Thank you!

Jen271626

Hey my full application went in on Friday (11th). Soft and hard searches were carried out Saturday (12th),I just checked after midnight.
My husband has a small default almost 5 years ago for 100 and a few late payments for very last year. I have 2 late payments last year to very. I'd filled in the application to freeze payments and they never actioned it. However, he is also self employed and has took the seiss grants but is super busy again now. We have a 70% ltv and only need to borrow 1.8 times our income so hoping that will help things. 

Rudi1990

Brucema07 said:

Rudi1990 said:

Hiya
I got my mortgage offer with Aldermore just over a week ago, it took just under 4 weeks from full submission, there were 2 requests for additional information and a question about a payment showing on my statements. Yes, Aldermore usually do the underwriting first but you have to pay the valuation fee on application so the payment going out doesn’t mean the underwriting stage has been approved, they don’t tell you when the valuation is being done, I’m in touch with the lady whose house I’m buying and she let me know it was booked.

Congratulations!! 
Without sounding nosey - was your credit background similar to mine at all? With the missed payments? I've read the criteria so much and it doesn't mention missed payments from what I can see. It just says about CCJs/defaults/repossessions etc
Thank you!

Thank you 😊 never thought i’d get there!
Yes I have a ccj from 2015 and 3 defaults from 2015/2016, all paid at least 3 years ago.
Not sure if late payments and defaults are classed as the same thing but I’m sure your mortgage advisor would have checked you fit the criteria before submitting the application, good luck! 🍀

Brucema07

Ah thank you! Well my MA has just said he didn't declare the late payments before the DIP was approved. Its made me more nervous now! I don't get why he didn't declare it... did he have to?