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  • FIRST POST
    • FTBHere2018
    • By FTBHere2018 14th Sep 18, 6:26 AM
    • 5Posts
    • 1Thanks
    FTBHere2018
    FTB Aldermore
    • #1
    • 14th Sep 18, 6:26 AM
    FTB Aldermore 14th Sep 18 at 6:26 AM
    My partner and I are trying to purchase our first home - our timescales currently

    24/08/18 Offer accepted
    4/09/18 Broker Processes full application to Aldermore after AIP comes back approved
    10/09/18 Phoned Broker - Tells me he needs to phone headoffice for an update

    and we have had no contact since from broker - I phoned the brokers office and was informed they weren't in the office and will let me know when there's an update

    I'm impatient I admit I just want a rough timescale for hearing back, I can't get excited about the house until I know the mortgage is sorted with Aldermore. (We're trying to purchase a newbuild at 92% LTV with a 7% deposit, idk if this could have any bearings on how long it takes to underwrite)
    Last edited by FTBHere2018; 15-09-2018 at 9:04 PM. Reason: wrong ltv
Page 1
    • ACG
    • By ACG 14th Sep 18, 8:55 AM
    • 17,490 Posts
    • 9,299 Thanks
    ACG
    • #2
    • 14th Sep 18, 8:55 AM
    • #2
    • 14th Sep 18, 8:55 AM
    Call the broker and ask them to tell you the timeframes. Your not paying for a service where they should only be updating you when there is news. They should be giving you ball park timeframes and when to expect an update.

    Your not being impatient by the sounds of it, they are not doing what they should be doing which is causing you to have more questions and worry.
    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.
    • FTBHere2018
    • By FTBHere2018 15th Sep 18, 12:29 PM
    • 5 Posts
    • 1 Thanks
    FTBHere2018
    • #3
    • 15th Sep 18, 12:29 PM
    • #3
    • 15th Sep 18, 12:29 PM
    Thank you for your advice ACG, this is a nervewracking process let alone with the broker not updating us etc
    however an update on this: Broker came back to us yesterday, signed DD mandate, survey should be ordered next week.
    • AFF8879
    • By AFF8879 15th Sep 18, 8:23 PM
    • 370 Posts
    • 950 Thanks
    AFF8879
    • #4
    • 15th Sep 18, 8:23 PM
    • #4
    • 15th Sep 18, 8:23 PM
    I assume you are purchasing through help to buy (as I am not aware of any lender that offers 95% LTV on new builds outside of this scheme) - this creates an additional layer of approval that can take time but in this instance it just seems like the person dealing with your case is out of office- highly annoying I know, when I bought my place a couple of years back my solicitor suddenly went silent for over 2 weeks, I then found out she had left the firm! Worrying at the time but all worked out in the end, as I am sure it will for you; home buying is incredibly stressful but all worth it when you are sat having a takeaway and glass of wine on your first night!
    • FTBHere2018
    • By FTBHere2018 15th Sep 18, 8:38 PM
    • 5 Posts
    • 1 Thanks
    FTBHere2018
    • #5
    • 15th Sep 18, 8:38 PM
    • #5
    • 15th Sep 18, 8:38 PM
    We're not going through help to buy, I'm not 100% as as far as I know our mortgage is 92% ltv with 7% deposit, the figures and stats are hurting my brain at this point lol. As far as my understanding goes our mortgage is a 'normal set up', we're first time buyers etc, so I'm not sure basically :P

    Our actual broker is on paternal leave and we have a broker covering for him, and thank you, I hope all will go through fine
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