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  • FIRST POST
    • rorb10
    • By rorb10 22nd May 19, 3:14 PM
    • 3Posts
    • 0Thanks
    rorb10
    Aldermore Mortgages - Reliable?
    • #1
    • 22nd May 19, 3:14 PM
    Aldermore Mortgages - Reliable? 22nd May 19 at 3:14 PM
    I've got bad credit and debts and I'm looking to get a mortgage with my partner who has good credit and no debts. I'm looking to see how much I could borrow but Aldermore want to charge me 95 for an AIP.

    How reliable are they for people with bad credit?
Page 1
    • redman1989
    • By redman1989 22nd May 19, 3:20 PM
    • 48 Posts
    • 6 Thanks
    redman1989
    • #2
    • 22nd May 19, 3:20 PM
    • #2
    • 22nd May 19, 3:20 PM
    I'm currently going through my second application with Aldermore.

    My first app the DIP was referred but went through fine, application went fine, they asked some questions etc but they seemed satisfied, i paid the valuation fee but the valuation failed (was the property not Aldermore)

    Currently going through the second Application on a new Property and it's gone through fine, waiting for the valuation to be done then hopefully have the mortgage offer.

    Although if you are concerned about paying the 95 they charge 480 for the Valuation which needs to be paid at a certain point in the valuation (although they don't usually instruct the actual valuation unless they are confident in the case will proceed.

    if you view online you will see some complaints but grieved customers always take to the internet, you can see complaints about every lender.

    Just note it's not a gaurentee that they lend to all bad credit customers you still have to pass certain criterias.
    • amnblog
    • By amnblog 22nd May 19, 6:09 PM
    • 11,165 Posts
    • 4,469 Thanks
    amnblog
    • #3
    • 22nd May 19, 6:09 PM
    • #3
    • 22nd May 19, 6:09 PM
    95 for an AIP, are you sure? News to me.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • redman1989
    • By redman1989 23rd May 19, 8:11 AM
    • 48 Posts
    • 6 Thanks
    redman1989
    • #4
    • 23rd May 19, 8:11 AM
    • #4
    • 23rd May 19, 8:11 AM
    Yes can confirm that i didn't pay for any of my AIPS had three I believe.
    • MortgageMamma
    • By MortgageMamma 23rd May 19, 8:16 AM
    • 6,423 Posts
    • 3,194 Thanks
    MortgageMamma
    • #5
    • 23rd May 19, 8:16 AM
    • #5
    • 23rd May 19, 8:16 AM
    Is it your broker charging you 95 for an AIP? Most brokers do that for nothing once you've signed your client agreement
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • rorb10
    • By rorb10 23rd May 19, 4:12 PM
    • 3 Posts
    • 0 Thanks
    rorb10
    • #6
    • 23rd May 19, 4:12 PM
    • #6
    • 23rd May 19, 4:12 PM
    Their website says they charge for advice and couldn't see where I could get an Aip so phoned them and asked if they would charge for an Aip and they said yes. Will call again though
    • amnblog
    • By amnblog 23rd May 19, 8:42 PM
    • 11,165 Posts
    • 4,469 Thanks
    amnblog
    • #7
    • 23rd May 19, 8:42 PM
    • #7
    • 23rd May 19, 8:42 PM
    If you feel you are a suitable borrower for Aldermore you should be using a Broker not trying to go direct. Your case needs professional management.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • redman1989
    • By redman1989 24th May 19, 9:36 AM
    • 48 Posts
    • 6 Thanks
    redman1989
    • #8
    • 24th May 19, 9:36 AM
    • #8
    • 24th May 19, 9:36 AM
    I would agree with the above -

    If i had no adverse credit i would have done myself and my wifes Mortgage application direct with a prime lender but due to some old defaults from 4+ years ago I had to go adverse.

    As soon as i got in the process i realised it was quite more complicated than I anticipated (more questions upon questions) so opted for a Broker, i filled out her fact find and she's done the rest with only 1 or 2 queries about my employment history but that was it.

    Certain brokers have good relationships with these lenders and it may carry favour in the case.
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