Aldermore - Process

CLJ2986

2006eyo said:

CLJ2986 said:

ihaveaquestionplease said:

Hi everyone, I’ve been following your posts for a week or so - thanks @CLJ2986 for the recommendation to check out this thread

I have an application in with Aldermore and like many of these posts am literally so anxious and certain it’s all gonna go wrong. 

Does anyone know what happens if the application is rejected - is it a straight up ‘no’ or do they give options as in lower LTV etc? 

I’m nervous my affordability won’t be up to standard based on recent bank statements etc. 

Any guidance or info would be appreciated, thanks x

Hi! What do you think the issue is with your bank statements? Mine were a mess lol I use my card for everything but then I haven't been accepted yet 😳 some other posts made me think if they aren't happy after the initial checks then you get a decline or recommend a lower ltv but I'm.on my 4th week with my 2nd application and they just keep asking for more info 🤣 not very helpful I know sorry!

sorry for jumping on this,   what kind of questions do they keep asking in regards to your bank statements  do they go through every card payment etc.     me and my partner have a joint account for bills and saving  and then we have our own for living and socializing and stuff  we put more than we need in the savings to grow it,  i presume they will look into both  but my own 'fun' account we just spend whatever we leave 40% of my wage in them to do what we want through the month.   my credit isnt the best so am worried


TIA

Hey, so from mine they queried some direct debits. One for boots and my loan, and one from my partners account to something called voluntary services. We don't know what that was for so we've cancelled it lol but the only transaction they asked about was a large credit from my partners mum. None of my day to day spending. They also asked how we plan to cover the mortgage for the remainder of my maternity leave. Hope that helps 🙂 

No she didn't mention sending me the report so I'll wait for it lol i don't want to bother her again asking for it! 

Reddington85

JMcc123 said:

@Reddington85 did your broker take wage slips/bank statements early on?

My broker took these straight off, so the only additional paperwork I had requested was a donor letter from my mum I think? And confirmation I would pay any outstanding debts off prior to completion. I know it feels like you're pestering, I was the exact same, and now am with my solicitors :') but all these questions are what they're there for Your broker will hopefully be able to ease your mind a touch x

@JMcc123 yeah the broker took everything, I’ve not long started a new job so I even sent my new contract and my partner gets a wage increase next month so we sent that through. We have 3 small credit cards (£150 on each that are 0% that we marked on submission as to be paid off)

It was just me forgetting to fill the direct debit form in and them requesting the income declaration form

JMcc123

Reddington85 said:

JMcc123 said:

@Reddington85 did your broker take wage slips/bank statements early on?

My broker took these straight off, so the only additional paperwork I had requested was a donor letter from my mum I think? And confirmation I would pay any outstanding debts off prior to completion. I know it feels like you're pestering, I was the exact same, and now am with my solicitors :') but all these questions are what they're there for Your broker will hopefully be able to ease your mind a touch x

@JMcc123 yeah the broker took everything, I’ve not long started a new job so I even sent my new contract and my partner gets a wage increase next month so we sent that through. We have 3 small credit cards (£150 on each that are 0% that we marked on submission as to be paid off)

It was just me forgetting to fill the direct debit form in and them requesting the income declaration form

That's basically all i had to send, so if you only have £450.00 outstanding debts and two incomes they may not have questions yet? As i say, the only extra paperwork/questions I had was the family donor letter  

JMcc123

CLJ2986 said:

2006eyo said:

CLJ2986 said:

ihaveaquestionplease said:

Hi everyone, I’ve been following your posts for a week or so - thanks @CLJ2986 for the recommendation to check out this thread

I have an application in with Aldermore and like many of these posts am literally so anxious and certain it’s all gonna go wrong. 

Does anyone know what happens if the application is rejected - is it a straight up ‘no’ or do they give options as in lower LTV etc? 

I’m nervous my affordability won’t be up to standard based on recent bank statements etc. 

Any guidance or info would be appreciated, thanks x

Hi! What do you think the issue is with your bank statements? Mine were a mess lol I use my card for everything but then I haven't been accepted yet 😳 some other posts made me think if they aren't happy after the initial checks then you get a decline or recommend a lower ltv but I'm.on my 4th week with my 2nd application and they just keep asking for more info 🤣 not very helpful I know sorry!

sorry for jumping on this,   what kind of questions do they keep asking in regards to your bank statements  do they go through every card payment etc.     me and my partner have a joint account for bills and saving  and then we have our own for living and socializing and stuff  we put more than we need in the savings to grow it,  i presume they will look into both  but my own 'fun' account we just spend whatever we leave 40% of my wage in them to do what we want through the month.   my credit isnt the best so am worried


TIA

Hey, so from mine they queried some direct debits. One for boots and my loan, and one from my partners account to something called voluntary services. We don't know what that was for so we've cancelled it lol but the only transaction they asked about was a large credit from my partners mum. None of my day to day spending. They also asked how we plan to cover the mortgage for the remainder of my maternity leave. Hope that helps 🙂 

No she didn't mention sending me the report so I'll wait for it lol i don't want to bother her again asking for it! 

dCLJ2986 said:

2006eyo said:

CLJ2986 said:

ihaveaquestionplease said:

Hi everyone, I’ve been following your posts for a week or so - thanks @CLJ2986 for the recommendation to check out this thread

I have an application in with Aldermore and like many of these posts am literally so anxious and certain it’s all gonna go wrong. 

Does anyone know what happens if the application is rejected - is it a straight up ‘no’ or do they give options as in lower LTV etc? 

I’m nervous my affordability won’t be up to standard based on recent bank statements etc. 

Any guidance or info would be appreciated, thanks x

Hi! What do you think the issue is with your bank statements? Mine were a mess lol I use my card for everything but then I haven't been accepted yet 😳 some other posts made me think if they aren't happy after the initial checks then you get a decline or recommend a lower ltv but I'm.on my 4th week with my 2nd application and they just keep asking for more info 🤣 not very helpful I know sorry!

sorry for jumping on this,   what kind of questions do they keep asking in regards to your bank statements  do they go through every card payment etc.     me and my partner have a joint account for bills and saving  and then we have our own for living and socializing and stuff  we put more than we need in the savings to grow it,  i presume they will look into both  but my own 'fun' account we just spend whatever we leave 40% of my wage in them to do what we want through the month.   my credit isnt the best so am worried


TIA

Hey, so from mine they queried some direct debits. One for boots and my loan, and one from my partners account to something called voluntary services. We don't know what that was for so we've cancelled it lol but the only transaction they asked about was a large credit from my partners mum. None of my day to day spending. They also asked how we plan to cover the mortgage for the remainder of my maternity leave. Hope that helps 🙂 

No she didn't mention sending me the report so I'll wait for it lol i don't want to bother her again asking for it! 

I would 100% be using it as an excuse to chase again? :') x

CLJ2986

Hahaha i might just try that one tomorrow. Just trying to sit back and wait now! If they ask for anything else I might just cry. They've had everything surely! 

Reddington85

JMcc123 said:

Reddington85 said:

JMcc123 said:

@Reddington85 did your broker take wage slips/bank statements early on?

My broker took these straight off, so the only additional paperwork I had requested was a donor letter from my mum I think? And confirmation I would pay any outstanding debts off prior to completion. I know it feels like you're pestering, I was the exact same, and now am with my solicitors :') but all these questions are what they're there for Your broker will hopefully be able to ease your mind a touch x

@JMcc123 yeah the broker took everything, I’ve not long started a new job so I even sent my new contract and my partner gets a wage increase next month so we sent that through. We have 3 small credit cards (£150 on each that are 0% that we marked on submission as to be paid off)

It was just me forgetting to fill the direct debit form in and them requesting the income declaration form

That's basically all i had to send, so if you only have £450.00 outstanding debts and two incomes they may not have questions yet? As i say, the only extra paperwork/questions I had was the family donor letter  

Yeah, I have a personal loan of £5k which was used for a wedding downpayment but payments are literally £180 a month so that is my only expense (no other finance at all) so the Broker wasn't concerned about that one at all 

CLJ2986

Aldermore are apparently having communication issues. Says on their website phones are down. Guess I won't hear much today 🤣

JMcc123

CLJ2986 said:

Hahaha i might just try that one tomorrow. Just trying to sit back and wait now! If they ask for anything else I might just cry. They've had everything surely! 

Haha definitely worth a shot! 
i'd be shocked if they want anything more at this point! You're in the VERY final stages! x

CLJ2986

JMcc123 said:

CLJ2986 said:

Hahaha i might just try that one tomorrow. Just trying to sit back and wait now! If they ask for anything else I might just cry. They've had everything surely! 

Haha definitely worth a shot! 
i'd be shocked if they want anything more at this point! You're in the VERY final stages! x

God I hope so! Not checking my emails like a lunatic at all hahhaha that's a lie. Feel like I'm constantly staring at my phone! Other half is at work so at least he has a distraction..baby is asleep so I'm just here refreshing 🤣

mandycurl

Hey guys, been following this thread daily and thought I’d also help anyone going through same process with Aldermore.

We made full application 30th March with a hard search the same day. We are at 85% LTV. I’m employed by NHS and partner is self employed. Both have defaults hence Aldermore. We are working with a broker who has been fab.

We completed all paperwork. On 23rd April had a query off them on my bank statement of £750 from my employer which was advance of overtime payments which they didn’t pay me for the previous month. Aside from that we have had no further paperwork requests and broker had a message yesterday from them stating all paperwork complete and valuation booked for 29th April! Broker said we ‘should’ have our offer ‘soon’.

I’ve really appreciated this thread so thought I would contribute in the hope it helps someone else.

We are climbing the walls in anticipation as you are/have!

Fingers crossed for us all!!😁😁