Aldermore - Process

AFScot

So tomorrow is the last day of the 7 day SLA for underwriting since my application went in on the 27th . MB contacted her BDM on Friday and no questions raised but conscious this is just the development manager rather than the UW so a question could come in tomorrow. Just been odd that its complete radio silence - everything about Aldermore says they usually ask for your inside leg measurement!

Lauratemps

Submitted our full application on the 3rd of June...now joining the waiting game. I’m a little worried they will ask me to pay off my credit card debt (£9000 utilised from £25,000 available) but we should by far fit their affordability criteria (we earn around £110,000 between us) and have an accepted offer for £285,000...hoping I hear something from my broker this week! Usually the credit card debt wouldn’t be a worry but we are getting married in October so want to pay it off after! 

AFScot

Lauratemps said:

Submitted our full application on the 3rd of June...now joining the waiting game. I’m a little worried they will ask me to pay off my credit card debt (£9000 utilised from £25,000 available) but we should by far fit their affordability criteria (we earn around £110,000 between us) and have an accepted offer for £285,000...hoping I hear something from my broker this week! Usually the credit card debt wouldn’t be a worry but we are getting married in October so want to pay it off after! 

You can use their calculator to check affordability https://intermediaries.aldermore.co.uk/calculators/residential
Of course they could still ask for you to pay it, but this at least gives a general indication!

Reddington85

They didn't ask us to pay our debt off at all (which surprised me).
They are slow movers, methodical in the early stages but from my experience and looking at others on here - once they get going they move pretty damn quick 

CLJ2986

They didn't ask us to.pay anything off either. We have 2 loans, a credit card and a catalogue account. It totals about 10k. 

AFScot

Day 6 of the 7 day SLA they asked for a savings account statement showing the deposit - now my broker already had that as part of the documents I sent her pre-application, so either she didn't upload it or there was an upload error, either way very annoying and we are back in day 3 of another 7 day SLA for them to look at that statement. 

CLJ2986

AFScot said:

Day 6 of the 7 day SLA they asked for a savings account statement showing the deposit - now my broker already had that as part of the documents I sent her pre-application, so either she didn't upload it or there was an upload error, either way very annoying and we are back in day 3 of another 7 day SLA for them to look at that statement. 

Ah how frustrating, seems to happen a lot. We got to valuation stage to discover an employment reference was required and had been requested a week before we were told about it, so my employer had missed the email. Hang in there! 

@JMcc123 how are you getting on? Moving next week still? 

JMcc123

@CLJ2986 have you still got no date? Is it 14th you need to give notice by?
Paperwork returned, deposit transferred and all on track for completion next Friday! So close now! Not actually moving until 24th as I have some decorating I want to get done first, but all on track! x

rainbow_791

AFScot said:

Day 6 of the 7 day SLA they asked for a savings account statement showing the deposit - now my broker already had that as part of the documents I sent her pre-application, so either she didn't upload it or there was an upload error, either way very annoying and we are back in day 3 of another 7 day SLA for them to look at that statement. 

The wait is so frustrating isn't it. We had to pay something off and send over proof so now another long wait. Even more annoying when it was something your broker had 

Reddington85

AFScot said:

Day 6 of the 7 day SLA they asked for a savings account statement showing the deposit - now my broker already had that as part of the documents I sent her pre-application, so either she didn't upload it or there was an upload error, either way very annoying and we are back in day 3 of another 7 day SLA for them to look at that statement. 

 That happened to us too, as soon as the document was uploaded they approved though