Aldermore - DIP

simk6

Jen271626 said:

simk6 said:

Jen271626 said:

Jen271626 said:

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. 

Hey just thought I'd update you our broker called today to say that our documents are all satisfactory and Aldermore have moved to valuation. We are in Scotland so it is just a case of the surveyor sending them it and I know its okay. So hopefully things will go as quickly for you. 

Amazing news! Quick progress if you ask me - my application went in on the 2/3 and my MA hasn't confirmed if aldermore have requested the HR with it located in Scotland. Going to get onto him in the morning and find out what the scoop is as that will be the 2 week mark. Expecting it to be a lot quicker without a physical valuation needed! 

Do you know who done the home report? We actually have lived in the house we are buying for ten years. My dad bought it for us to live in as we couldn't get a mortgage back then as my husband had just went self employed. So, I am so desperate to get this mortgage as its already our home and my dad needs to sell. We used Sheridans for the home report and they were really quick, so hoping they'll get it over to Aldermore quickly also. 

The house we are hoping to buy had a HR that was out of date OCT 2020. We knew it had expired to prior to submitting our application our solicitor instructed the sellers to refresh the report. The home report was refreshed on the 2/3 the day our application went in and we had a revised HR by the end of the week! The sellers surveyor was Allied Surveyors from what I'm lead to believe they are one of Scotland biggest surveyors so I would imaging they are on aldermores panel of surveyors as I have read that if  surveyor isn't on the list you need to pay the 370 valuation fee and get a valuation by a surveyor of their choice!

I'll give u a bell when I get an update from my MA tomorrow

Jen271626

Yeah Allied and Sheridan are the biggest ones, they should definitely be on their panel. Hope you get some good news today! 

simk6

Jen271626 said:

Yeah Allied and Sheridan are the biggest ones, they should definitely be on their panel. Hope you get some good news today! 

MA has said aldermore are still on the valuation and to allow an additional 5 working days for a decision!

He reckons this is an overestimate and hopes we will hear by the end of the week!

Rudi1990

simk6 said:

Jen271626 said:

Yeah Allied and Sheridan are the biggest ones, they should definitely be on their panel. Hope you get some good news today! 

MA has said aldermore are still on the valuation and to allow an additional 5 working days for a decision!

He reckons this is an overestimate and hopes we will hear by the end of the week!

From my experience, soft and hard searches were done within a few days of submission- this is just standard procedure and underwriting has not been done at that stage. The valuation is then instructed and it’s only once they have the valuation report that the Underwriting process begins.

simk6

Rudi1990 said:

simk6 said:

Jen271626 said:

Yeah Allied and Sheridan are the biggest ones, they should definitely be on their panel. Hope you get some good news today! 

MA has said aldermore are still on the valuation and to allow an additional 5 working days for a decision!

He reckons this is an overestimate and hopes we will hear by the end of the week!

From my experience, soft and hard searches were done within a few days of submission- this is just standard procedure and underwriting has not been done at that stage. The valuation is then instructed and it’s only once they have the valuation report that the Underwriting process begins.

Yeah soft search was done on the 26/2 when we got our DIP then the hard search registered day of full application.

That being said the property is located in Scotland so no valuation was instructed. Only the request of the home report from the surveyor so my MA reckons that this should shave of a few days if not a week of the standard times. The sounds of it they had HR at the start of last week.

Brucema07

Our valuation has been instructed and there's a positive note on our file, so fingers crossed its all good!

Jen271626

My husband had another soft search done today that says customer management search so he's had a soft search at dip. One at full application along with an identification one and a hard one and then the other today. They have requested the home report and we have had to fill in income declaration forms. My boss said he received and resent an employee reference from them. My dh is self employed but is really busy so no concerns about income. 

simk6

Jen271626 said:

My husband had another soft search done today that says customer management search so he's had a soft search at dip. One at full application along with an identification one and a hard one and then the other today. They have requested the home report and we have had to fill in income declaration forms. My boss said he received and resent an employee reference from them. My dh is self employed but is really busy so no concerns about income. 

Best of luck! Hopefully it won't be too long before you get some info!

Jen271626

Good luck to you both, hope you hear updates soon. I believe they update the intermediary pages each working day. 

simk6

Good news people!

Formal offer issued by aldermore awaiting the paperwork!

DIP 26/2 
FULL APP 2/3
3/3 ALL DOCUMENTS SUBMITTED 
8/3 HOME REPORT REQUESTED (SCOTLAND)
17/3 FORMAL APPROVAL.