“Can’t believe me and my partner got a mortgage. Me and my partner had some financial difficulties a few years ago and we didn’t think we would be accepted especially when reading all the awful reviews and our low 5% deposit. it did take a bit longer than normal about 3-4months altogether they did ask for different information and more payslips. We had a fab mortgage advisor Mike and he sorted everything out with Aldermore. So don’t believe all the reviews there is hope for others.”
“Have had no problems with opening accounts or transferring money with Aldermore since I first opened an account several years ago. They have provided great communication and best of all their interest rates are so much better than those being offered by leading banks and building societies.”
“Wonderful news, whether they read my review regarding customer loyalty I don't know, but we were contacted by Aldermore Bank ( I called them back as you should for security reasons) and received an apology and opened the account at the original rate. Well done, and thank you Aldermore”
“The reason I give 2 stars is that at least they have a good working internet banking and the withdrawals (originally) work within the timescale they promise.
However, do not fall for it. They make it sound super simple and easy and then they keep your money hostage.
I explain... I opened this account by how easy it sounded to deposit / withdraw money from my main current account in case I had an emergency and needed the money. And the first time around it worked great. Until I get a letter in the post saying that until I prove my current account is my own they have put "preventative measures" in my easy saver (without giving any details about which they are!). I went paperless with my current account provider, so I go to my app's inbox and download my latest statement, I send both a photo of Aldermore's original letter to me and the PDF I just downloaded from my current account provider to them via email... I thought, well this is done. They have my email, they have a photo of the letter, surely there will be no doubt THIS IS ME.
Wrong, I receive an email saying they do not accept digital documents (when are we? 1980s?) and I must contact customer service via phone. I do, customer service then says they cannot accept digital documents... Ok, but I don't have a printer at home, what do I do? Oh, we cannot accept documents printed at home either, it has to be an original from your bank - lady, did you not just hear me saying I had gone paperless?
So, she then explains that I cannot do anything with my money until I send an original statement from my bank via post. Keeping my money hostage!
So I contacted my current account provider, who confirmed the copy of the statement will come in 7-10 working days. This plus the amount of time it will take to send the statement back to Aldermore and having them processing it, means that this won't get resolved any earlier than 15 days. I sincerely hope I will not need this money within these 15 days or I am going to be a very angry person.
This is MY MONEY! Why do you go through all the trouble of limiting deposits and withdrawals from a specific current account to then do all this? It's ridiculous and outdated.”
“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.”
“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.”
“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”
“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.
“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!”
“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.”
“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!!”
“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”
“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 :-(”
“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”
“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!”