Given the current rate environment, thought this brief may be of some use.
Did you know that once you submit a decision in principle to Aldermore, this secures the product for your client?
So in this period of increasing interest rates, if you receive a rate change notification from us you do not need to rush in the full application in order to reserve a product, as the DIP secures the product for you for 30 days!
You can then use that 30-day window to gather the documents you need, convert the dip to the application submitted and upload the documents so their underwriters can assess a fully packaged application – full details are here:
Please note that once you have keyed in the application and the application is at the Pre FMA stage, the 30-day window disappears and you then have 10 working days to submit the minimum documentation…..so use the 30 days wisely to collate the required information prior to converting to application.
The following guide is also useful – aldermore-application-journey.pdf
Hope this is of help
