Aldermore - Process

Reddington85

CLJ2986 said:

Reddington85 said:

Ah so Aldermore came back again today asking for more detail. 
Our current property is HTB and they want to know how much of it we own (80%) and amy partner was off work for 3 months (she's now back full time and was on full pay). We sent an employee reference through but now they want more direct from the employer.

Getting nervous!!

Honestly they asked me for so many documents and they just kept asking. I was so sure they would say no. They had a letter from my employer stating everything you'd get on an employer reference cause they wanted proof of me going back off maternity, then they asked for a separate employer reference too!

Makes me feel a bit more relaxed. I am guessing they want to know how I'll fund the deposit but we're lucky enough to be making around £32k in equity (of which over half is going to be a deposit and god knows how much on fees!)

 I just wonder what questions they want to ask the employer directly? I would guess - is she back at work permanently?  She's on a medical return programme (nicer word for disciplinary/investigation if off for a further period) but is full time and has been for a month now.

CLJ2986

Ah I never saw the actual ref, it was sent to my boss directly. I think it was standard start date, salary details etc. Sorry not very helpful!

Reddington85

Yeah we already had one of those sent through. We've just sent the last payslip through which shows no sickness on so the broker thinks that might be enough for them

CLJ2986

Fingers crossed! It takes a long time but I think they are just very thorough in going through applications, especially since they do so many "high risk" mortgages... I still find it hard to believe were considered high risk. If this house wasn't so perfect I'd have saved like a madman to get to a 15% deposit instead 🤣

Reddington85

CLJ2986 said:

Fingers crossed! It takes a long time but I think they are just very thorough in going through applications, especially since they do so many "high risk" mortgages... I still find it hard to believe were considered high risk. If this house wasn't so perfect I'd have saved like a madman to get to a 15% deposit instead 🤣

Yeah same here on the high risk part. I’m just rationalising the many questions they’ve asked haha

CLJ2986

The wait is almost over though, wasn't your valuation today? Or was that someone else?? 

My solicitor has just emailed me all the search results, hooray! No idea what comes next haha I have asked but doubt ill hear til tomorrow now. 

srh88

Reddington85 said:

CLJ2986 said:

Fingers crossed! It takes a long time but I think they are just very thorough in going through applications, especially since they do so many "high risk" mortgages... I still find it hard to believe were considered high risk. If this house wasn't so perfect I'd have saved like a madman to get to a 15% deposit instead 🤣

Yeah same here on the high risk part. I’m just rationalising the many questions they’ve asked haha

From what I gather once they’re pretty much happy they instruct the valuation and then may still ask for a few docs in the background 

then has one final check with a senior underwriter after the valuation comes back and the first underwrite is ticked off 

my MA has been pushing for them to do similar as the things they want now just seem trivial plus the fact they’ve already been sent! 

Literally all they want from us now is proof of deposit which they’ve had twice, proof that we’ve paid off our debts and they’ve had statements, completion letters and a recent credit report not showing any debt! 

Latest for us is my MA is awaiting an email back with an update 

Reddington85

CLJ2986 said:

The wait is almost over though, wasn't your valuation today? Or was that someone else?? 

My solicitor has just emailed me all the search results, hooray! No idea what comes next haha I have asked but doubt ill hear til tomorrow now. 

Yeah that’s me. Surveyor rang last night to let me know what he’d be doing and any questions I might have 

oh @srh88, I hope things speed up!

JMcc123

Hey,
Mental week!

I don't think my employer gave a reference? If they did they went directly to them, as I wasn't asked anything about my job at all.
@CLJ2986 How was the viewing?

I had an email from the solicitor (unprompted :O ) yesterday, confirming I wanted the cooker left in and with an attachment from Aldermore for the gifted part of the deposit, so for my mum to fill in and return. I pushed for a date again (I think they're getting annoyed at that!), I've based it on wanting to give a months notice where I am now on 27th May, but unable to confirm at this point And i've not heard back from the EA regarding what date the vendor is aiming for. I'll chase again next week! x

CLJ2986

Hey! So the viewing was awesome, loved the house just as much. Found out there's no restrictions on the garage conversion plan, and my oh was super happy cause the ceiling is already plastered 🤣 now it's just waiting for the conveyancing. We've had all local searches back, with an advisory that we should consider a homebuyers survey due to a subsidence risk. However we are happy that the house is sound so not going to. We do have to ensure that we have subsidence insurance cover though. Exciting times! Get chasing them! Fingers crossed for your dates!