Aldermore - Process

in Mortgages & Endowments
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  • h75jbh75jb Forumite
    4 Posts
    First Post
    MoneySaving Newbie
    So after submitting our application back on the 3rd of June we have been backwards and forwards with document requests…frustrating as each time reset 7-9days for an update and it was repeated information they already had for our LISA’s! 

    However, yesterday our estate agent emailed to say that our valuation has been booked for Tuesday so I’m super hopeful we will receive an offer soon! 
    We’ve had the exact same experience. We’re now into week 8/9 of our process and are patiently waiting but the wait has been very long and nerve-wracking. Hope we both hear something soon! 
  • TapeTape Forumite
    12 Posts
    10 Posts
    De lurking to join this thread. Currently applying for Mortgage with Aldemore and have been reading every thread there is to try and understand the process and guess where we might be up to! My broker has been unwell, so haven't had much contact since the application was submitted, but he's back in touch now. 

    30/06 - offer accepted
    02/07 - DIP received
    between 09 and13/07 - full application submitted (approx date -not sure exactly when broker actually submitted)
    20/07 - Valuation survey instructed (know this as e.surv accidentally contacted me)
    28/07 - asked to explain why my income was lower two years ago (maternity leave/part time work) and for my accountants email address

    I'm self employed and have a bad credit history from over 3 years ago, but applying with my employed partner who has a good score, good credit history etc. 

    I don't actually know if the valuation survey has been carried out yet, I was surprised not to have questions before the survey was instructed, have been trying to figure out if its a good sign or not!
  • Sarah1993Sarah1993 Forumite
    13 Posts
    10 Posts Name Dropper
    h75jb said:
    So after submitting our application back on the 3rd of June we have been backwards and forwards with document requests…frustrating as each time reset 7-9days for an update and it was repeated information they already had for our LISA’s! 

    However, yesterday our estate agent emailed to say that our valuation has been booked for Tuesday so I’m super hopeful we will receive an offer soon! 
    We’ve had the exact same experience. We’re now into week 8/9 of our process and are patiently waiting but the wait has been very long and nerve-wracking. Hope we both hear something soon! 
    Can I ask  What was queried on LISAs?

    We have LISA'S too, and just want to understand what they would ask is next..

    thanks
  • LauratempsLauratemps Forumite
    8 Posts
    First Post
    So we heard that a valuation was carried out yesterday so I’m hoping to relieve an offer soon! 

    They wanted LISA statements and then were confused about the reference numbers for payments in and the account numbers for the LISA’s. They actually asked for some of the same information a couple of times and I resent and had to explain they already had the info! It seems though they finally realised! 
  • rainbow_791rainbow_791 Forumite
    1.5K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    So we heard that a valuation was carried out yesterday so I’m hoping to relieve an offer soon! 

    They wanted LISA statements and then were confused about the reference numbers for payments in and the account numbers for the LISA’s. They actually asked for some of the same information a couple of times and I resent and had to explain they already had the info! It seems though they finally realised! 
    Ahh you are so close now. Our offer was a week after the valuation was done and the relief was amazing knowing we had the offer :smile:
  • rainbow_791rainbow_791 Forumite
    1.5K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    Could anyone who has compelted tell me when the first payment will be taken? We are due to complete on our sale tomorrow but I can't seem to find when our first payment will be made
  • Sarah1993Sarah1993 Forumite
    13 Posts
    10 Posts Name Dropper
    So we heard that a valuation was carried out yesterday so I’m hoping to relieve an offer soon! 

    They wanted LISA statements and then were confused about the reference numbers for payments in and the account numbers for the LISA’s. They actually asked for some of the same information a couple of times and I resent and had to explain they already had the info! It seems though they finally realised! 
    Ah ok.

    Are you waiting for mortgage offer before applying for releasing of LISA Funds?

    It takes 30 days to release the funds, so was wondering what is the best approach. Apply for release of funds before getting the mortgage (and cancel the release if mortgage falls through ) or wait to allpy for funds release until we get the mortgage offer.

    Any suggestions ?
  • K_SK_S Forumite
    3.2K Posts
    1,000 Posts Name Dropper
    ✭✭✭✭
    Sarah1993 said:
    So we heard that a valuation was carried out yesterday so I’m hoping to relieve an offer soon! 

    They wanted LISA statements and then were confused about the reference numbers for payments in and the account numbers for the LISA’s. They actually asked for some of the same information a couple of times and I resent and had to explain they already had the info! It seems though they finally realised! 
    Ah ok.

    Are you waiting for mortgage offer before applying for releasing of LISA Funds?

    It takes 30 days to release the funds, so was wondering what is the best approach. Apply for release of funds before getting the mortgage (and cancel the release if mortgage falls through ) or wait to allpy for funds release until we get the mortgage offer.

    Any suggestions ?
    @sarah1993 Unless you are very time-pressed and expecting to have less than 30 days between mortgage-offer and exchange, it would probably be better to wait for the mortgage offer before you/conveyancer apply for release of the LISA funds.

    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

  • CLJ2986CLJ2986 Forumite
    430 Posts
    100 Posts Name Dropper
    ✭✭
    Could anyone who has compelted tell me when the first payment will be taken? We are due to complete on our sale tomorrow but I can't seem to find when our first payment will be made
    I completed 9th July, My first payment went out 28th July for about 2 thirds of my regular payment. We got a letter the day after we completed with the details. 
  • edited 3 August at 4:31PM
    MrsYa8MrsYa8 Forumite
    28 Posts
    10 Posts Name Dropper
    edited 3 August at 4:31PM
    I’m trying to work out what is going on with our application. I probably should just pick the phone up and ask our MA but I feel like we ask so many questions already. 

    Basically last week MA phones and asks for a some information to be sent to him so he could forward onto Aldermore. I’m not sure if this is because our DIP got referred and he needed this info to have the DIP agreed. The latest update we have was that she had submitted all the paperwork and it’s all with the under writers? 

    So do you think that this means the full application has gone in or do you think that is for a DIP.   

     I know they current underwriting is 6 days including weekends or 6 working days 

    I know I should probably ask the MA. But I hate having to keep asking questions. 

    Thank you. 
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