Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • redman1989
    • By redman1989 2nd May 19, 2:12 PM
    • 48Posts
    • 6Thanks
    redman1989
    Re - Aldermore Mortgage timescale
    • #1
    • 2nd May 19, 2:12 PM
    Re - Aldermore Mortgage timescale 2nd May 19 at 2:12 PM
    Hi All,

    Me and my Wife are buying our first property together and was wondering what time scales I should expect as we are also in the process of selling the house she owned before we got together.

    Obviously going with Aldermore as I had some small defaults from 3+ years ago totalling to 600.

    Mortgage broker had everything at hand previously 3 months statements, payslips, utilities bills, proof of deposit (will be from our sale, we will end up with 50,000 cash but will only need 26,000 for deposit), Credit Reports as we wanted her to review us first before anything got done, we had a DIP with another lender which was 15% deposit but we wanted the 10% for the cash (even though the monthly rate jumped!)

    AIP Mortgage quote search on Credit Record - 29/04/2019
    AIP was accepted - 29/04/2019
    Hard credit Search - 30/04/2019
    Application was Accepted - 30/04/2019
    They requested valuation fee be paid - 30/04/2019
    Valuation fee cleared my bank today - 02/05/2019
    Further Payslip requested - 03/05/2019
    Employment history info requested - 07/05/2019
    Valuation instructed (no date confirmed) 08/05/2019
    Valuation carried out (issues with a few cracks & uneven/sloping)- 09/05/2019
    Requested to arrange a Structural Engineer - 09/05/19

    MA said she will poke them today with regards booking the valuation in as the EA asked me when do i think it would be, MA seems is saying that it's not uncommon for them to take a few days to get around to booking the Valuation.

    My Wifes credit has always been excellent mine's been fair on Experian other than the aged defaults from 3-5 years ago i've had nothing else adverse happen.

    I earn 36,000 & she earns 30,000 buying a house for 260,000 so need to lend 234,000.

    Saving grace is we are selling a lease hold flat which is looking to take a 1-2 months to complete so not in any immediate rush the stress is killing me though! I don't know if i should be expecting them to act instantly each time i do my bit as keep thinking something is going to go wrong as the time progresses.
    Last edited by redman1989; 09-05-2019 at 1:52 PM.
Page 2
    • redman1989
    • By redman1989 23rd May 19, 8:07 AM
    • 48 Posts
    • 6 Thanks
    redman1989
    Would take it as a good sign, when our first one had valuation issues i knew literally first thing the next morning.

    Valuation on the new property was taking place between 8am-9am.. fingers crossed!!
    • nattybuk
    • By nattybuk 23rd May 19, 3:34 PM
    • 15 Posts
    • 0 Thanks
    nattybuk
    DIP came through today, now waiting on the big application results
    • FTBLB
    • By FTBLB 24th May 19, 3:51 PM
    • 7 Posts
    • 0 Thanks
    FTBLB
    Hope you valuation went ok?
    We have had some exciting news that our Mortage application has been accepted!!
    Took just over 3 weeks from when we put full application in. Hope you all get the same news soon 🤞🏼🤞🏼🤞🏼
    • redman1989
    • By redman1989 25th May 19, 1:40 PM
    • 48 Posts
    • 6 Thanks
    redman1989
    I think it did! It was carried out on Thursday I got a copy of the report yesterday, said had been some slight movement but it was old and wasn't progressive, It was suitable security and it wouldn't need any further survey which was a relief!

    The last report said it had structural issues, it wanted a full retention, full structural survey etc.

    Great news about the accepted app! When do you get the offer?!
    • nattybuk
    • By nattybuk 31st May 19, 5:44 PM
    • 15 Posts
    • 0 Thanks
    nattybuk
    Little more progress

    P60s requested a few days ago.

    We need to raise a little more towards the deposit before a offer is submitted to us.

    Valuation has been instructed though
    • redman1989
    • By redman1989 10th Jun 19, 2:19 PM
    • 48 Posts
    • 6 Thanks
    redman1989
    Update - got our offer today
    • Ejstar
    • By Ejstar 10th Jun 19, 10:13 PM
    • 3 Posts
    • 0 Thanks
    Ejstar
    That's great news. I think mine is on it's way. They've had all the documents and the valuation, my broker said it was scheduled to be signed off today. Excited isn't the word.

    Did the offer come through the post? Eeeeeee

    Solicitors are busy doing their thing. Just can't wait to exchange and complete!!
    • redman1989
    • By redman1989 11th Jun 19, 12:33 PM
    • 48 Posts
    • 6 Thanks
    redman1989
    My MB informed me verbally but getting it all out in the post over the next days.

    Annoying thing is though our sale may fall through or be delayed but we have enough money for deposit & stamp duty just need to speak to aldermore about them still lending! fingers crossed.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,170Posts Today

7,367Users online

Martin's Twitter
  • RT @Gumtree: @MartinSLewis Hi Martin, we do not tolerate unscrupulous advertising by third parties on the Gumtree platform and are working?

  • Today's Twitter Poll: How do you view nuclear power? Is it an environmentally friendly form of clean renewable ene? https://t.co/WE5pRJ1Jsx

  • So how much work do I actually do on the MSE weekly email these days, now I?m in the exhaulted position of ?Executi? https://t.co/b8XWxPiUwn

  • Follow Martin