Aldermore Bank Reviews

1.4 Rating 52 Reviews
10 %
of reviewers recommend Aldermore Bank
1.4
Based on 52 reviews
Customer Service
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Anonymous
Anonymous  // 01/01/2019
Applied for a Mortgage with Aldermore as it was the best option at the time. Advised long lead times as they were specialist, which was fine, but did not expect the 'extra' documents which added time, and always going over the timeframes mentioned to our advisor. Twice we were asked for more documents. Why wasnt the second set of documents requested at the same time as the first request. This started delays that were unnessersary. After 7 weeks, we were declined, for my Partner only working in her industy for less than 2 years, although having 3 years of books. Due to her being an entertainer (fire performer), the pandemic stopped live events and she carried on being an entertainer online. Shes been earning through being online for 23 months. Aldermore state that they use a bit of common sense when assessing applications, but the reasons for declining our application seem like a 'computer says no' moment. They also waited 14 (working) days to come back on our appeal when our advisor was quoted 10 days. Finally, they don't see the pandemic as a reason for people to need to change jobs (paraphrased from a conversation between Aldermore and our advisor). Again showing how they are not reviewing applications on an individual basis.
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Posted 1 month ago
I applied for an ISA on behalf of my father just over a month ago. As I have Power of Attorney I telephoned before my application as I envisaged it may be a little more complicated. The staff member I spoke to advised me that although I would need a certified copy of mine and my father's passport, I would not need a certified copy of proof of address and that a photocopy of a utility bill would suffice. Before taking a day off work and travelling to the other side of London to take my 86 year old father to a post office to get a certified passport copy, I called Aldemore again to double check this info, I was told no need for a certified copy of proof of address. On receipt of application form they did not enclose a transfer form, I called and was told that they had to post one out to me and I couldn't return it by email it had to be by post. I submitted this and chased up 2 weeks later, and was told that everything was in place but I hadn't ticked a tiny box on the transfer form, could I download a form from their website, something which was not possible with the previous advisor, and post again. I did this, chased up a week later, they said they hadn't received it, I doubled checked that everything else was on track, they confirmed that as soon as they received the third ISA transfer form, the account would be opened within a week. 5 weeks after my initial application I have received a letter informing me that a month has passed so they cannot open the account, furthermore I have not supplied a certified copy of proof of address plus the application form was neither signed nor dated. If this were not absolute rubbish, would it be too much to ask for one of the customer service staff to point out this fact in one of my 3 very long and drawn out phone calls, not to mention the waiting time of over half an hour each time. They are suggesting that I reapply and go through the whole process again. I won't be, I wouldn't trust them and I'm not going to put my father through the stress of thinking his money is in the hands of complete incompetents.
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Posted 1 month ago
Tried to open joint account sent what I thought was all relevant documents. Letter confirming all seemed OK, no further correspondence for weeks, email sent by us to enquire, no reply. Telephoned by then 4 weeks had passed since their last correspondence, to be informed some documents had been declined and they had therefore closed our account, and we would have to apply again!!! Unbelievable
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Posted 2 months ago
Customer for many years without needing any 'service' other than on line. However, absolutely awful customer interface service. Telephone waiting time ridiculous and letter response time weeks rather than days. Don't even bother emailing. Terrible service.
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Posted 2 months ago
Three and a half weeks and no account opened sounds like inadequate staffing Rates are going up so avoid them and do yourself a favour
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Posted 3 months ago
Appallingly bad C/S phone is never answered emails never replid too been waiting 28 days for a paper copy of end of tax year interst statement Interest also paid late every month
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Posted 3 months ago
DI. NOT USE THIS BANK! Even if you’re desperate, they won’t give you your money back. Unlike reputable banks, you don’t just lose interest if you want your money back inside a fixed term, they won’t repay you at all. Disgraceful con!
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Posted 6 months ago
I took a commercial mortgage with them for 750k which took forever to get agreed but nevertheless it got done eventually. My interest rate is some 5.5% which is high but that's just how it goes sometimes. After 4 years passing and with no warning, I receive an email out of the blue. They want to instruct a surveyor to re value my properties for a sum of £3-£4k that I have to pay for. Why??? If the Loan To Value was acceptable 4 years ago, then surely now that the outstanding balance being circa £660k means its even better? And a commercial bank should have enough commercial understanding to know that if anything the value of the properties have increased which in turn makes the LTV even better! Why do I have to pay for a surveying company who probably has the survey pre-printed and will just put my name at the beginning of the report and the value at the end of the report to tell them so? Its ridiculous, unnecessary, and very annoying. I will move my mortgage elsewhere as soon as possible for sure.
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Posted 8 months ago
Dreadful service, they appear to be totally dysfunctional. Tried to set up a savings account using power of attorney. They are supposed to set up the account within 5-6 days of receipt of documentation. Three phone calls and 26 days later - nothing! On last call I had a letter read out to me which hadn't yet been sent telling me more information was required. To be avoided!!
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Posted 8 months ago
So old fashioned, require any documents via snail mail, don't bother there are plenty of better places.
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Posted 8 months ago
I have submitted 3 applications for remortgage with this lender. There timescales are terrible and they haven't even reviewed 2 cases with one still waiting the valuation, the valuation was sent last week but nothing from there side.poor
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Posted 8 months ago
I have requested bank statements for a closed Aldermore acct (I need this for my mortgage application with a different bank). After 17 days of waiting I called again to be told that they haven't posted them yet. Very sorry, no we can't email them to you. I can't progress my mortgage application without this :-(
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Posted 8 months ago
Delay delay delay that’s all this bank knows. If you email you get a reply saying they will get back to you in 2 days they never do!!!! I wish I had read the reviews before ever getting involved with this bank. I’ve been waiting for a release of funds for 7 days. They’ve asked for documents been supplied them in hard copy sent special delivery which has been signed for but they deny ever receiving the letter. They’ve had it by email and just don’t respond. Stay clear of this bank they hide behind their automatic response and do ever To delay
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Posted 8 months ago
I wish I’d read these reviews before proceeding with a mortgage with this company. My broker gave them all of my details, was told no issues I was given a mortgage in principle. I was left waiting for a month whilst it was with underwriters who repeatedly asked for more information and took a week to reply to each response. Meanwhile, I am paying for solicitors surveys and going through the forms etc… required on the property I’m purchasing. After all this, I am told by Aldermore that the my will not lend me the money, meaning I will probably lose the property! Time wasters and incompetent!
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Posted 9 months ago
Their Invoice Finance arm are terrible. Arrogant and unhelpful with a high staff turnover. Avoid at all costs.
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Posted 11 months ago
opened a new ! year deposit account with Aldermore on the 15th June 2021 & transferred the closing balance on Account with Virgin . Apparently this should have come from my designated Account so they returned it to Virgin . Virgin re opened the account to accept the money back but its never arrived . I made phone calls to Aldermore & Virgin daily and discovered Aldermore had used the incorrect bank code. Aldermore said I should send evidence of the account I had with Virgin & give them authority to send the balance to my nominated account . I did this over a week ago & have been told that this is being sorted out by the management team. I still don't have my money & am now very worried about it. I have been transferring money between banks like this for several years & have never had any problems before.
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Posted 1 year ago
One word "Incompetent!" unless it's 2 words by putting "absolutely" in front! should be avoided for mortgages
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Posted 1 year ago
Had a confirmed mortgage offer with this bank. Went through 8 months of checking accounts. All fine. Eventually got the offer. I cleared my credit card debt as promised as part of the offer process. Went through their solicitors to do the conveyancing on the remortgage. Had to pay additional fees to them. They then Undervalued my house by £100k so I had to start the lending process and checks again. Eventually I accepted a higher interest rate because I was backed into a corner and needed to complete so as not to lose my house. 24hrs prior to completion they pulled my mortgage. Absolutely disgraceful and I will be reporting them to the financial ombudsman as a result.
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Posted 1 year ago
Payed for 2 surveys with them £400 each, wasted, undervalued a house and wanted another 10 grand deposit on top of our 25 grand already, then we lost the house and it got sold to another person for the same as we were gunna buy it for, absolute scam to take your money
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Posted 1 year ago
Aldermore are very bad, I would also avoid them for mortgages. They declined my 90 LTV application, even though my salary is high. They first said it was to do with my middle name, then they changed their mind and said it was to do with my student loan and then they then changed their mind again and said it’s to do with a Delphi search. Firstly, my broker sent them proof of the Aldermore affordability calculator that I was able to afford the mortgage. Secondly they claimed they made a mistake about my middle name and it had nothing to do with that and then lastly a Delphi search is to do with business not individuals. They kept giving excuses and I am going to escalate this to the FCA. Their service has been unfair, shocking, terrible and appalling. I love at home with my elderly mother and I need to move out in order to protect her for when I do go back to the office or even to the shops. They did not even care about my mitigated circumstances. I’m really shocked.
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Posted 1 year ago
Aldermore Bank is rated 1.4 based on 52 reviews