Aldermore defaults

Slou123

Hello

aldemore state for level 1, 1 default in the last however months.

I have two however one is a communications - it says somewhere on their website all communication accounts ignored so does this mean I would pass for the one default?thanks!

ACG

That is how I would read it, but it has been a while since I have used Aldermore. 

If you fit level 1, have you tried elsewhere? Level 1 is for those people who are generally borderline high street or potentially little building societies. So you could potentially be looking at rates much lower. Have you spoken to a broker? If not, it might be worth just getting a second opinion. 

K_S

Slou123 said:

Hello

aldemore state for level 1, 1 default in the last however months.

I have two however one is a communications - it says somewhere on their website all communication accounts ignored so does this mean I would pass for the one default?thanks!

@slou123 This is what my Aldermore BDM responded a few months ago to almost this very question -  "if the default is on a mobile phone contract, we can ignore it subject to passing the DIP and underwriting". Their criteria pages states this more unequivocally - that comms defaults will be ignored.

I didn't use Aldermore eventually as the purchase fell through and by the time the client found a new property, he qualified for a cheaper product with another lender.

welly_59

ACG said:

That is how I would read it, but it has been a while since I have used Aldermore. 

If you fit level 1, have you tried elsewhere? Level 1 is for those people who are generally borderline high street or potentially little building societies. So you could potentially be looking at rates much lower. Have you spoken to a broker? If not, it might be worth just getting a second opinion. 

@acg what building societies are most likely to be a fit for someone who is aldermore level 1 eligible but not quite high street?

ACG

I cant really say, it is all dependent on the details. Its one of those things where you probably need to sit down with a broker and a copy of your credit report. 

Slou123

ACG said:

That is how I would read it, but it has been a while since I have used Aldermore. 

If you fit level 1, have you tried elsewhere? Level 1 is for those people who are generally borderline high street or potentially little building societies. So you could potentially be looking at rates much lower. Have you spoken to a broker? If not, it might be worth just getting a second opinion. 

Also if a mortgage passed AIP and pre underwriting are chances good?