Trussle / Aldermore Nightmare ! Seller about to pull out?

fortylittletoes

We applied for a mortgage with Aldermore through Trussle - the full application went in around mid April. 

The whole thing has been a nightmare so far- Aldermore are asking for paper copies of everything so we have duly sent. 

We have been stuck on one letter since the middle of May. 

We had tax credits last year we have a much reduced amount this year due to pay rises (it comes to £88 a month now). 

We are NOT using the tax credits as part of the affordability calculations so it doesn’t really have any effect on the mortgage at all. We dont yet have an award letter for the current year tax credits say it could be weeks. 

 Trussle has sent in the application and paperwork. Aldermore write back asking for the tax credit letter. Trussle writes back saying we dont have it and we are not using the tax credits. 

Aldermore wait a week or two then write back requesting the same letter with no acknowledgement that anyone has mentioned anything about it before. 

Trussle write back …. Repeat over and over. 

Trussle tell us that as far as they can see there is no reason at all why aldermore are doing this - advisor said it seems like they are not reading their emails. 

The advisor is now on holiday and we were supposed to get an “urgent” callback from her manager on friday. We havent heard anything and have no contact details for the manager. 

The seller thinks we are messing them around and is getting very stressed and we are getting frequent calls asking for updates. The sale with just fall through if this goes on much longer . 

Trussle dont seem to know whats going on and dont seem to have anyway to actually figure it out. They are helpful enough but dont seem to be able to speak with the underwriters at all. 

At this point even if Aldermore turned round and said no because we dont have the letter at least we would have an answer!

Has anyone else been in this situation? 

Its been 10 weeks since we put in the full application and since mid may its been stuck on this. 

Do we have anyway forward here? Has anyone had a similar situation?

woodpeckerx

Why use a broker, just go direct to the bank or building society that offers the mortgage product/deal you want.

[Deleted User]

fortylittletoes said:

We applied for a mortgage with Aldermore through Trussle - the full application went in around mid April. 

The whole thing has been a nightmare so far- Aldermore are asking for paper copies of everything so we have duly sent. 

We have been stuck on one letter since the middle of May. 

We had tax credits last year we have a much reduced amount this year due to pay rises (it comes to £88 a month now). 

We are NOT using the tax credits as part of the affordability calculations so it doesn’t really have any effect on the mortgage at all. We dont yet have an award letter for the current year tax credits say it could be weeks. 

 Trussle has sent in the application and paperwork. Aldermore write back asking for the tax credit letter. Trussle writes back saying we dont have it and we are not using the tax credits. 

Aldermore wait a week or two then write back requesting the same letter with no acknowledgement that anyone has mentioned anything about it before. 

Trussle write back …. Repeat over and over. 

Trussle tell us that as far as they can see there is no reason at all why aldermore are doing this - advisor said it seems like they are not reading their emails. 

The advisor is now on holiday and we were supposed to get an “urgent” callback from her manager on friday. We havent heard anything and have no contact details for the manager. 

The seller thinks we are messing them around and is getting very stressed and we are getting frequent calls asking for updates. The sale with just fall through if this goes on much longer . 

Trussle dont seem to know whats going on and dont seem to have anyway to actually figure it out. They are helpful enough but dont seem to be able to speak with the underwriters at all. 

At this point even if Aldermore turned round and said no because we dont have the letter at least we would have an answer!

Has anyone else been in this situation? 

Its been 10 weeks since we put in the full application and since mid may its been stuck on this. 

Do we have anyway forward here? Has anyone had a similar situation?

It sounds like a nightmare. But ultimately it needs progressing to the right people and somebody fighting your corner which is what a good broker will do but it doesn't sound like Trussle are escalating this enough.

You might be better posting this on the mortgages board but @K_S and @ACG and others are incredible with their advice and may be able to help.

I'm assuming there's a reason you've gone for Aldermore and are holding out for them? I think if I was in your shoes I would try pulling that application and going elsewhere (and maybe move to a really good broker who will try and get a mortgage offer through for you asap!).

K_S

@fortylittletoes Based on the limited info in your post, it just looks like crossed wires. Unless things have changed very recently, as a broker I am able to speak to the individual handling the case at Aldermore who raises queries.

To me it just sounds like the broker (or the administrator who in large brokerages is the one that keys in the application and handles the to and fro) has not had the time to pick up the phone and try to reach the underwriter to see what the issue is and resolve it. And if this has been going on since May, that is far too long for a single issue.

In the meantime, it might be worth asking the broker to send an email to the estate agent assuring them that things are in hand, that's often all it takes to calm them down and get you a bit more time.

K_S

woodpeckerx said:

Why use a broker, just go direct to the bank or building society that offers the mortgage product/deal you want.

@woodpeackerx Nothing wrong with doing that at all. But in this case Aldermore (like a lot of other specialist lenders) is an intermediary-only lender, so going direct is not an option.

woodpeckerx

K_S said:

woodpeckerx said:

Why use a broker, just go direct to the bank or building society that offers the mortgage product/deal you want.

@woodpeackerx Nothing wrong with doing that at all. But in this case Aldermore (like a lot of other specialist lenders) is an intermediary-only lender, so going direct is not an option.

I didn't say there was anything wrong with it but I've never understood why people don't just go direct, that's what I've always done.

K_S

woodpeckerx said:

K_S said:

woodpeckerx said:

Why use a broker, just go direct to the bank or building society that offers the mortgage product/deal you want.

@woodpeackerx Nothing wrong with doing that at all. But in this case Aldermore (like a lot of other specialist lenders) is an intermediary-only lender, so going direct is not an option.

I didn't say there was anything wrong with it but I've never understood why people don't just go direct, that's what I've always done.

@woodpeckerx Sorry, what I meant was that there's nothing wrong with going direct at all

Setting your specific case aside, there are plenty of reasons why using a broker may be a better option (or the only option where the most appropriate lender is specialist or intermediary-only) for lots of different scenarios, requirements and clients, but then I would say that wouldn't I !

caprikid1

"I didn't say there was anything wrong with it but I've never understood why people don't just go direct, that's what I've always done."

Even with great credit and affordability I still use a broker.

A good broker does not cost a huge amount, they know who is the best lender for my circumstances it's not pot luck, who is processing business quickly etc. Often they have better deals on access than I can get to. They apply for hundreds of mortgages a year I apply for one every 5. You can do it yourself but for what it costs its worth every penny using a good broker, I can never understand why people go direct. You also risk a bad credit file if you put in multiple applications, you clearly are not that in touch with Lending and Mortgages as there is no way you would have made this comment given the lender and the obvious circumstances, this is not a simple case.

I had a mortgage offer at risk due to a job change, the broker smoothed it over in 10 mins with one call to the lenders BDM, never underestimate how much a broker does for a relatively small fee (Some don't charge).

No I am not a mortgage broker !

fortylittletoes

Deleted_User said:

fortylittletoes said:

We applied for a mortgage with Aldermore through Trussle - the full application went in around mid April. 

The whole thing has been a nightmare so far- Aldermore are asking for paper copies of everything so we have duly sent. 

We have been stuck on one letter since the middle of May. 

We had tax credits last year we have a much reduced amount this year due to pay rises (it comes to £88 a month now). 

We are NOT using the tax credits as part of the affordability calculations so it doesn’t really have any effect on the mortgage at all. We dont yet have an award letter for the current year tax credits say it could be weeks. 

 Trussle has sent in the application and paperwork. Aldermore write back asking for the tax credit letter. Trussle writes back saying we dont have it and we are not using the tax credits. 

Aldermore wait a week or two then write back requesting the same letter with no acknowledgement that anyone has mentioned anything about it before. 

Trussle write back …. Repeat over and over. 

Trussle tell us that as far as they can see there is no reason at all why aldermore are doing this - advisor said it seems like they are not reading their emails. 

The advisor is now on holiday and we were supposed to get an “urgent” callback from her manager on friday. We havent heard anything and have no contact details for the manager. 

The seller thinks we are messing them around and is getting very stressed and we are getting frequent calls asking for updates. The sale with just fall through if this goes on much longer . 

Trussle dont seem to know whats going on and dont seem to have anyway to actually figure it out. They are helpful enough but dont seem to be able to speak with the underwriters at all. 

At this point even if Aldermore turned round and said no because we dont have the letter at least we would have an answer!

Has anyone else been in this situation? 

Its been 10 weeks since we put in the full application and since mid may its been stuck on this. 

Do we have anyway forward here? Has anyone had a similar situation?

It sounds like a nightmare. But ultimately it needs progressing to the right people and somebody fighting your corner which is what a good broker will do but it doesn't sound like Trussle are escalating this enough.

You might be better posting this on the mortgages board but @K_S and @ACG and others are incredible with their advice and may be able to help.

I'm assuming there's a reason you've gone for Aldermore and are holding out for them? I think if I was in your shoes I would try pulling that application and going elsewhere (and maybe move to a really good broker who will try and get a mortgage offer through for you asap!).

Thanks - we had to use Aldermore as we had a late credit card payment last year which was a stupid mistake on our part plus we shut down a business in 2020 and we pay £100 a month to a liquidator for that and the other banks really didnt seem to like this!

We have a 10% deposit and the affordability of the mortgage is fine but we are really struggling to get anyone to help. 

The survey on the house was done mid may everything else is done but i feel like Aldermore are going to say no at this point!

the only reason we looked into buying now is that our rent is going up at the end of the year by a lot. Even with the high interest mortgage we are going for its still about 500 less per month that the rent on our flat so we figured it was worth a shot!