Aldermore - Process

Rudi1990

simk6 said:

CLJ2986 said:

Rudi1990 said:

Brucema07 said:

Rudi1990 said:

Brucema07 said:

Ah thank you both. There's probably no clear cut way to do it for every person and that's why there's no confirmation of their process anywhere. I will just have to try and be more patient I suppose x

It’s an awful wait 😕 mine took just under 4 weeks from start to finish

At what point did they start asking for more info / paperwork? Before or after the valuation x

Before - as I said, my MA arranged for the full underwrite to be completed before the valuation

How long from valuation to offer was it for you? I've just had an update saying all my documents have been passed back to Aldermore and there should be an update by the end of next week, which will be 3 weeks since application. I've asked if the valuation has been booked in yet but not had a response yet. Waiting is super hard!

From what i had read before on another post, the person actually got in contact with the home owners directly to find out if it had been actioned yet... Maybe an option if you aren't getting an answer from your MA/aldermore?

Yes it was me that got the update from the seller, I wouldn’t have known it was booked otherwise as Aldermore didn’t tell me or my MA

Rudi1990

CLJ2986 said:

Update, the valuation on our property hasn't even been booked yet so it would appear they are doing all the underwriting beforehand as the application went in two weeks ago 5/3 and on Wed 17/3 they requested a lot of further information. Does anyone know if we get declined before they value will they refund it? 

My MA told me I should get a refund if I didn’t pass underwriting, you should ask yours to confirm

CLJ2986

Rudi1990 said:

CLJ2986 said:

Update, the valuation on our property hasn't even been booked yet so it would appear they are doing all the underwriting beforehand as the application went in two weeks ago 5/3 and on Wed 17/3 they requested a lot of further information. Does anyone know if we get declined before they value will they refund it? 

My MA told me I should get a refund if I didn’t pass underwriting, you should ask yours to confirm

Yeah I'll ask them Monday. Im.assuming if they never actually value it then they would refund it... fingers crossed they are satisfied with all the explanations I gave. My biggest worry is they won't accept that we have enough cash to manage during my mat leave 🙄

Rudi1990

CLJ2986 said:

Rudi1990 said:

Brucema07 said:

Rudi1990 said:

Brucema07 said:

Ah thank you both. There's probably no clear cut way to do it for every person and that's why there's no confirmation of their process anywhere. I will just have to try and be more patient I suppose x

It’s an awful wait 😕 mine took just under 4 weeks from start to finish

At what point did they start asking for more info / paperwork? Before or after the valuation x

Before - as I said, my MA arranged for the full underwrite to be completed before the valuation

How long from valuation to offer was it for you? I've just had an update saying all my documents have been passed back to Aldermore and there should be an update by the end of next week, which will be 3 weeks since application. I've asked if the valuation has been booked in yet but not had a response yet. Waiting is super hard!

I just put together a timeline for anyone interested:

02/02 full application submitted 
12/02 request for payslip that had been mislaid
16/02 request for January bank statement and query on a transaction 
19/02 underwriting completed
26/02 valuation completed
01/03 mortgage offer received 

hope this helps 😊

CLJ2986

Thanks for that, I *should* have an answer by 1st April ish going by your timeline 🤞🤞🤞 

Another week of waiting and refreshing emails every 45 seconds from 9am.to 6pm begins 😅😅

Rudi1990

CLJ2986 said:

Thanks for that, I *should* have an answer by 1st April ish going by your timeline 🤞🤞🤞 

Another week of waiting and refreshing emails every 45 seconds from 9am.to 6pm begins 😅😅

No problem! Fingers crossed for you 🤞🏼

CLJ2986

Another update, the initial checks have been done and they've questioned 4 different transactions on our bank statements. Is it a good sign that the initial checks are complete and they haven't yet said no?? I'm really not feeling very hopeful! Any update on your valuation??

Brucema07

We've had our offer today!!! Yay!! If the valuation is being booked then ita a good sign i think xx

CLJ2986

They haven't booked our valuation yet. But congratulations on your offer you must be so relieved! 

JMcc123

Hi!
Seems I'm in a very similar situation to you all! I've had confirmation from my Broker today that Aldermore are happy with the paperwork and have sent this onto Valuation, do we know how long this takes?
DIP - 08/03
Full Application - 15/03
Between then and now they've requested lots of additional information, including confirmation any outstanding debts will be paid in full prior to the mortgage offer (approx £1600 credit cards, Next, Argos - nothing major), also requested a signed letter from my parents confirming part deposit and assistance with debt clearance - I'm taking all of this as positive? But there seems to be confusion when the Underwriting actually takes place? Will it be party done until Valuation?

Any help would be much appreciated! Keeping my fingers crossed for you all x