Aldermore - Process

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  • J454
    J454 Posts: 8
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    Still waiting for news here! 
    Do you know if your valuation has taken place? Ours is on Thursday. 
  • J454 said:
    Still waiting for news here! 
    Do you know if your valuation has taken place? Ours is on Thursday. 
    Yes the valuation took place on the 26th apparently we are still waiting for someone to review it
  • Still no news at the moment! I'm hoping we'll hear something back on Tuesday 14th June, as that's 10 working days from when our additional documents would have been sent in by the mortgage broker! Fingers crossed!
  • So the broker contacted us tuesday to say that aldermore randomly select applications to go through another underwriter for checking as part of compliance checking. 

    She said its an internal checking process and nothing to worry about - but it doesnt feel that way!. 

    We are ten weeks in now and its starting to feel a bit of a ridiculous process! Just give us a yes or a no so we can get on with life!
  • shanod
    shanod Posts: 30
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    So the broker contacted us tuesday to say that aldermore randomly select applications to go through another underwriter for checking as part of compliance checking. 

    She said its an internal checking process and nothing to worry about - but it doesnt feel that way!. 

    We are ten weeks in now and its starting to feel a bit of a ridiculous process! Just give us a yes or a no so we can get on with life!
    Yeh totally agree with you, everything seems so stretched out, just want to know yes or no!!

    we hear something off them and then 5/6 days later nothing, it’s frustrating. 

    Anyway best of luck with it all everyone. 
  • J454
    J454 Posts: 8
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    Just an update on timeline, still awaiting a decision:

    25/04/2022 DIP applied and agreed
    06/05/2022 Full application
    19/05/2022 Valuation instructed 
    09/06/2022 Valuation took place
    10/06/2022 Valuation reported as satisfactory 
    14/06/2022 Request for further bank statements and employer reference.
  • shanod
    shanod Posts: 30
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    Any updates people? Apparently our checklist is fully ticked but not had valuation yet, but it’s been instructed. Surely it’s a good sign if the valuation booked, or is that me just being positive!? 

    Seems to take sooo long. 
  • Quick update - apparently the valuation on the house we're hoping to purchase was done last Tuesday. We're still waiting for an update - I was told we'd hear something yesterday, then yesterday was told it would be today, but nothing yet. Hopefully we will find out soon! Not sure if we're likely to now get a mortgage offer, or if further documents will be needed.

    After checking Aldermore's website, it appears that valuation is a positive indication. I found more info out on Aldermore's website (via the Intermediaries section, then by clicking on the link for current turnaround times, then by going to the bottom of the page under 'Useful links' and clicking on 'Mortgage and criteria guides') than I have from our mortgage broker. The document 'Aldermore Application Journey' was particularly useful.

    Good luck everyone! I'm finding this really stressful!
  • We are having a nightmare with Aldermore, we had our valuation done a week and a half ago and still heard nothing, and as we are buying a new build, we were supposed to exchange within 30 days and as it has been over 6 weeks the company we are buying from are threatening to put the house back on the market. Our broker contacted Aldermore today and apparently they haven't even looked at the valuation survey as they didn't realise it had been uploaded on to the online portal as they assumed it would be a PDF document, we have been given Friday as the deadline day and obviously there is no way we will have got the offer let alone exchanged!!! Everything has taken so long, very stressed out tonight!! 
  • shanod
    shanod Posts: 30
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    rowsters said:
    Quick update - apparently the valuation on the house we're hoping to purchase was done last Tuesday. We're still waiting for an update - I was told we'd hear something yesterday, then yesterday was told it would be today, but nothing yet. Hopefully we will find out soon! Not sure if we're likely to now get a mortgage offer, or if further documents will be needed.

    After checking Aldermore's website, it appears that valuation is a positive indication. I found more info out on Aldermore's website (via the Intermediaries section, then by clicking on the link for current turnaround times, then by going to the bottom of the page under 'Useful links' and clicking on 'Mortgage and criteria guides') than I have from our mortgage broker. The document 'Aldermore Application Journey' was particularly useful.

    Good luck everyone! I'm finding this really stressful!
    Any updates anyone? 
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