Aldermore - Process

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  • WEALTH55 said:
    @Scotfroze they do take home report if it is a house your moving into and not renting out
    Thanks yes I'm buying to live in the property. that's good to know, wonder if I'd get the valuation fee back. My broker advised last week that they've instructed the valuation but I've heard nothing since as surprised they hadn't took the home report. The longer the wait the more stressed I'm getting that they'll now reject me - there's already been a rejection initially due to a technical issue on they're end (added more stress)!! 
  • Scotfroze said:
    WEALTH55 said:
    @Scotfroze they do take home report if it is a house your moving into and not renting out
    Thanks yes I'm buying to live in the property. that's good to know, wonder if I'd get the valuation fee back. My broker advised last week that they've instructed the valuation but I've heard nothing since as surprised they hadn't took the home report. The longer the wait the more stressed I'm getting that they'll now reject me - there's already been a rejection initially due to a technical issue on they're end (added more stress)!! 
    I would suggest your broker contacts them as I asked my broker how he keyed mine and he said there was an option to select a Scotland home report so it seems your broker has made the error here...
  • @WEALTH55 thanks I’ll give them a call Monday to ask the question. 
  • Hi All,

    We are FTB, I have credit issues with two defaults from five years ago my partner has an excellent credit history. Combined income of £100k. We are looking to purchase a property for £440k with 95% LTV from Aldermore. Our mortgage broker has reassured us that our case is straightforward and we should be in receipt of an offer within five weeks. But after reading this forum I’m highly doubtful! 

    Just thought I’d document our progress as it happens. So currently we have  passed all supporting documentation has been passed to our MB. 

  • Ros3s1
    Ros3s1 Posts: 5
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    Hi All

    Just wanted to update for those are that are going through the process more recently.

    We have now received our mortgage offer: 90% LTV

    Our r main issue was 2 defaults from 4 years ago, both settled 

    29/09/2021: Full Application Submitted

    Requested further documents twice 

    19/10/2021: Valuation Carried Out

    23/10/2021: Mortgage Offer Received in Post

    so I would say the process is going a lot quicker now stamp duty holiday is over. And people are slowly returning to offices 

    Good Luck Everyone :)

    Now the stress of waiting for a completion date begins

  • Just to give you an update and our timeline below;
    - mortgage submitted to lender 21 October
    - valuation carried out 26 October
    - mortgage offer received 1 November

    Our mortgage broker was surprised at how quickly the process went through. Very pleased and so far couldn’t fault them at all.
  • Sp2296
    Sp2296 Posts: 8
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    Hi guys been following this thread & it’s been very helpful also congrats to everyone who’s gotten their mortgage approved.

    im currently waiting to hear back from auldermore myself

    my timeline just now is
    26/11 DIP accepted / full application submitted ( hard search) completed
    30/11 asked for more documents bank statement employer reference and queried a loan
    30/11 informed valuation has been carried out and is waiting to be assessed. 

    Going to call today and see if hopefully there is an update 

  • T9OTE
    T9OTE Posts: 18
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    Hi all just applied via broker to aldmore mortgage at 95% LTV , my main issue is affordability , Broker has been amazing helping us all the way
    Anyone applied recently for a 95% ltv with Aldmore?  

    house viewing 18/12/2021

    Offer accepted 22/12/2021

    Mortgage applied 23/12/2021 

    waiting…..


  • Sp2296
    Sp2296 Posts: 8
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    Forumite
    T9OTE said:
    Hi all just applied via broker to aldmore mortgage at 95% LTV , my main issue is affordability , Broker has been amazing helping us all the way
    Anyone applied recently for a 95% ltv with Aldmore?  

    house viewing 18/12/2021

    Offer accepted 22/12/2021

    Mortgage applied 23/12/2021 

    waiting…..


    Hi im currently going through the process myself 
    valuation gets done first then underwriting 
    30/11 my valuation was done - they requested employer reference , bank statement, proof old loan paid 
    7/12 was due an update turns out they never sent my employer reference , but my ma told me it had been sent so caused a little stress 
    13/12 employer reference etc sent , they requested more info on proof of my deposit
    20/12 they weren’t happy with proof and needed further proof of deposit and more bank statements 
    31/12 now happy with proof of deposit they queried 3 transactions on my bank statements which my response will now be sent on 4/1/

    closing date is the 31st so I hope this is it now , 5 working days turn around from the next day of info being sent

  • T9OTE
    T9OTE Posts: 18
    First Anniversary First Post Name Dropper
    Forumite
    Sp2296 said:
    T9OTE said:
    Hi all just applied via broker to aldmore mortgage at 95% LTV , my main issue is affordability , Broker has been amazing helping us all the way
    Anyone applied recently for a 95% ltv with Aldmore?  

    house viewing 18/12/2021

    Offer accepted 22/12/2021

    Mortgage applied 23/12/2021 

    waiting…..


    Hi im currently going through the process myself 
    valuation gets done first then underwriting 
    30/11 my valuation was done - they requested employer reference , bank statement, proof old loan paid 
    7/12 was due an update turns out they never sent my employer reference , but my ma told me it had been sent so caused a little stress 
    13/12 employer reference etc sent , they requested more info on proof of my deposit
    20/12 they weren’t happy with proof and needed further proof of deposit and more bank statements 
    31/12 now happy with proof of deposit they queried 3 transactions on my bank statements which my response will now be sent on 4/1/

    closing date is the 31st so I hope this is it now , 5 working days turn around from the next day of info being sent

    I had many queries On the 28th and at the end of the day they instructed valuation for this Wednesday, i hope all goes well Wednesday, did your Valuation went well ?


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