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  • FIRST POST
    • FTBHere2018
    • By FTBHere2018 14th Sep 18, 6:26 AM
    • 19Posts
    • 4Thanks
    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
    • 17,835 Posts
    • 9,620 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
    • 19 Posts
    • 4 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
    • 391 Posts
    • 1,010 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
    • 19 Posts
    • 4 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
    • CLARKR
    • By CLARKR 20th Sep 18, 8:29 AM
    • 20 Posts
    • 6 Thanks
    CLARKR
    • #6
    • 20th Sep 18, 8:29 AM
    • #6
    • 20th Sep 18, 8:29 AM
    Hi FTBHere2018!
    We are in the same position. Applied on the 14th Sept, and going out of our minds playing the waiting game. Did you manage to get an update? Did you call Aldermore direct?
    • FTBHere2018
    • By FTBHere2018 20th Sep 18, 10:30 AM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    • #7
    • 20th Sep 18, 10:30 AM
    • #7
    • 20th Sep 18, 10:30 AM
    Hi Clark
    It takes a while for them to get back to your broker, it depends on your situation as well, we got a response from the broker about 7 working days after full app, and request for additional information was yesterday, time frame seems to be about a couple of days between responses for aldermore once you're nearing valuation stage.

    Valuation on my end has been booked for 25th September. So I'm looking at two weeks potentially for a response on that

    Good luck with your purchase , feel free to ask any questions you'd like
    • CLARKR
    • By CLARKR 20th Sep 18, 11:33 AM
    • 20 Posts
    • 6 Thanks
    CLARKR
    • #8
    • 20th Sep 18, 11:33 AM
    • #8
    • 20th Sep 18, 11:33 AM
    Oh thankyou ever so much! Every little detail really helps to settle our stomachs right now - thank you - I really appreciate it - I wish you all the very best!!! Good luck your end!
    Our Timeline:
    DIP - 10/09
    Full App - 14/09

    We have been told by our broker that a valuation has been instructed along with a 'But they do in all cases' which i find difficult to understand?

    Do you mind if i ask what additional information they requested?

    Thanks ever so much again!
    Fingers crossed for us both!!
    • FTBHere2018
    • By FTBHere2018 20th Sep 18, 11:46 AM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    • #9
    • 20th Sep 18, 11:46 AM
    • #9
    • 20th Sep 18, 11:46 AM
    Aldermore work on the basis of looking at the report from the valuation and make decisions based when they have all documents they need, I've heard from other brokers in this site, ACG above in this thread that aldermore are a great lender overall and they are specialist so work slowly and methodically. They asked for 3 months payslips from both me and my partner, p60, and proof of deposit/and gifted deposit, they came back to us and asked to clarify a few details through our broker, nothing too major. We've already signed the dd mandate and mortgage declaration for them, they look to have a turn around time of 25 days approx from full app
    Thank you! And same to you
    • CLARKR
    • By CLARKR 20th Sep 18, 1:29 PM
    • 20 Posts
    • 6 Thanks
    CLARKR
    Ahh thankyou!! That's really good to know!
    • FTBHere2018
    • By FTBHere2018 22nd Sep 18, 7:58 AM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    Update 22/09/2018
    an update for anyone interested in time scales for aldermore so far
    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
    14/09/2018 Aldermore requests documentation P60, 3 months payslips and letter of gifted deposit, dd mandate and declaration of mortgage
    15/09/2018 Broker requests additional proof on behalf on Lender
    19/09/2018 - Aldermore explain we need a bigger deposit, we provide a second gifted deposit letter to lender
    Broker comes back via email and announces valuation booked for 25/09/2018

    And now we wait.
    • CLARKR
    • By CLARKR 24th Sep 18, 12:32 PM
    • 20 Posts
    • 6 Thanks
    CLARKR
    Hey FTBHere2018!
    Fingers Crossed for you!
    Your valuation is tomorrow!!!
    We are having our Valuation today. Today, Aldermore have requested updated bank statements since we applied on the 14/09 so I am hoping we are getting closer! Good Luck
    • FTBHere2018
    • By FTBHere2018 24th Sep 18, 4:58 PM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    Thank you! Aye me and my partner are crossing everything lol
    Fingers crossed for you everything goes well, you buying a new build/older property?
    • CLARKR
    • By CLARKR 24th Sep 18, 5:03 PM
    • 20 Posts
    • 6 Thanks
    CLARKR
    We are buying a new build, so we are hoping it goes through quicker!
    • CLARKR
    • By CLARKR 27th Sep 18, 9:08 AM
    • 20 Posts
    • 6 Thanks
    CLARKR
    Hi FTBHere2018!
    I just wanted to let you know that we had our Valuation on Monday and we received our offer yesterday! Yippee! Finger crossed it wont be long for you now!
    • FTBHere2018
    • By FTBHere2018 27th Sep 18, 9:10 AM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    Congratulations!! So happy for you
    I'm praying it's today/tomorrow!
    • FTBHere2018
    • By FTBHere2018 18th Oct 18, 3:53 PM
    • 19 Posts
    • 4 Thanks
    FTBHere2018
    Providing an update on this thread, we ran into a few hiccups, our solicitor wasn't approved on the panel for our lender, so we changed, but we're on our way now with searches, should exchange mid November
    • bronzebomber
    • By bronzebomber 19th Oct 18, 1:18 PM
    • 2 Posts
    • 0 Thanks
    bronzebomber
    In the same boat here FTB with Aldermore glad I've found this thread as it's nice to know of others going through the same process.

    10/10 AIP with Aldermore
    11/10 Offer made and accepted on house
    12/10 Full Application submitted through broker
    15/10 Broker asked for copies of our p60's and gifted deposit letter. Took them over Signed some paperwork and gave bank card details for the survey fees . Money for the survey came out within minutes of them having it.

    Not heard anything since Monday afternoon so I guess things are progressing along and just waiting for the survey to complete but it's just all the waiting about wondering
    Last edited by bronzebomber; 19-10-2018 at 1:18 PM. Reason: spelling
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