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Posted: Mon Feb 27, 2017 5:10 am
by SlickSlender
I would also agree with the others here. If everything else is fine with your affordability and the default information is may have been accepted with a high street lender.

Posted: Mon Feb 27, 2017 11:32 am
by PoppingSkulls97
Well our broker has decided to place us with Aldermore now after not getting any further with Precise.....!!! We have had a DIP from them today and full application submitted. Anyone know on how long they take?

Posted: Mon Feb 27, 2017 3:52 pm
by convergent
I have been on hold to them for 40 minutes and I am only 6th in the bleedin queue!

They are a little on the slow side at the minute, up until the valuation everything is quick enough but then it just seems to stop.

Personally I am with the others, I think there are other (high street) options first but I expect Aldermore will get there for you based on what you have said.

Posted: Tue Feb 28, 2017 4:13 am
by kladiva
Did your broker try Pepper Home Loans? They may be slightly cheaper than Aldermore.. Aldermore are also a little slow in my opinion.

Posted: Tue Feb 28, 2017 3:18 pm
by broadcast
Hi, we had a decline with Precise in September and started the process with TML - The Mortgage Lender.

Process quite long but it looks like everything is ok. Valuation is done and we starting searches next week. My partner has few defaults 2+ years ago. My report is good.

As I know Aldermore accepts 36months + defaults so 3 and 5 years on defaults should be ok.

Surprised Precise declined you.

Fingers crossed x

Posted: Wed Mar 01, 2017 1:53 am
by convergent

Did your broker try Pepper Home Loans? They may be slightly cheaper than Aldermore.. Aldermore are also a little slow in my opinion.
Originally posted by ImRob

Its not a great idea to be naming lenders. We have limited information to go off. Surprisingly you can get a complaint made against you for leading the client without knowing enough about them.

Posted: Wed Mar 01, 2017 8:01 am
by PoppingSkulls97
We were so surprised that we were declined with Precise as our broker was confident that it would go through. Still don't have a clear answer on what went wrong apart from them thinking we had a default registered within 3 months.

Hoping this goes through with Aldermore. The rate offered was slightly higher knocking our payments up by an extra 20 a month. Do Aldermore do a hard search at DIP stage? I know Precise only did a soft search and then hard search at full application.

If this is a no go then we plan to continue saving for a year and go to a high street lender.

Thanks everyone for you advice.

Posted: Wed Mar 01, 2017 5:36 pm
by aurignacian
I'm not placing any cases with Aldermore until they sort themselves out.

They've taken on more cases than they can handle and it shows in the length of time they take to do anything... i.e answer the phone, check paperwork.

Posted: Thu Mar 02, 2017 10:01 am
by convergent
I spent about 70 minutes on the phoe to them on Friday.

In fairness they have processed everything ok, although I have had to chase a lot more than normal.Submitted on the 27th September and issued on Friday, 2 and a half weeks to get an offer, not too bad.

Posted: Thu Mar 02, 2017 8:29 pm
by nik
I have a very similar credit history to you, two defaults, one 3 years old and one 5 years old. No issues since.

We're borrowing more than you £160k, and have less income, £45k. So in theory, more risk than you.

We've just been accepted with Natwest.

I'd strongly urge you to try them or another high street lender before proceeding with Aldermore. They were our Plan B.