Aldermore Bank Reviews 

I have always found Aldermore bank very reliable and easy to deal with. Interest rates have always been good and good range of accounts. Their communication is excellent & I am confident that I will be kept informed of anything I need to know. I would recommend them without hesitation.

The website is easy to use but there is always a friendly and knowledgeable person at the end of the telephone line to help with problems. Good competitive rates of interest

WE HAVE REPLIED TO ALDERMORE's REQUEST FOR MORE INFO BY EMAIL.
NOTE THAT THE TRUSTPILOT FACILITY FOR RESPONDING TO ALDERMORE ONLINE IS UNWORKABLE. THIS REQUIRES AN UNKNOWN REFERENCE, AND WILL NOT COMPLETE WITH ANY REFERENCE SUCH AS THE ACCOUNT REFERENCE.

Tried closing an ISA. Aldermore responded by email saying they could not complete the refund to my nominated bank, but the ISA disappeared from my Aldermore account and nothing has arrived at my nominated account.

NOTE THAT THE TRUSTPILOT FACILITY FOR RESPONDING TO ALDERMORE ONLINE IS UNWORKABLE. THIS REQUIRES AN UNKNOWN REFERENCE, AND WILL NOT COMPLETE WITH ANY REFERENCE SUCH AS THE ACCOUNT REFERENCE NUMBER.

Update: though one ISA has now been closed, another has been difficult to remove cash from or close before the end date:
When repeatedly attempting to leave an ISA account open by leaving some funds, no matter how much is left in the ISA the onlnine system alerts that there will be negative interest and blocks any further any further.
The only option remaining is to log out, log back in and then close the account completely.
This means that Aldermore loses customers and accounts as the online system now effectively blocks partial withdrawals, only permitting closure.

We currently hold open-ended accounts with variable interest rates. I was about to transfer this year’s ISA allowance into our 60-day notice accounts when I noticed that Aldermore are currently paying 4.15% interest on their “Issue 10” 60-day notice ISA, as opposed to only 2.95% that they are paying us. It seems that the only difference between the two accounts is the so-called “Issue Number” and the interest rate.

Aldermore’s explanation is that “Our new accounts are available for new and existing customers, and from time to time, we introduce new offers on a limited basis. This helps us manage offering competitive rates. This is why we don’t pay the same rate on the older issues as the sale accounts ”. Effectively what Aldermore are saying is that they are relying on the ignorance / inertia of existing customers in order to offer higher rates elsewhere.

P.S. I have read Aldermore's response below which simply confirms what I've said. So I'm now in the process of moving all my savings elsewhere.

Professional customer service including phones being answered quickly. Excellent interest rates and monthly payments.

Good rate of 4.40% for cash isa with Alc

I am really impressed with the customer service so do save with Aldermore even though their rates are not the best. I believe it to be trustworthy.

Despite satisfying all the lending criteria for BTL the valuation came back with resale issues so Aldermore refused to give full offer. Aldermore either need to change their lending criteria or use valuvation firms who understand the property market.

Excellent experience with Aldermore yesterday when I wanted assistance closing an account and reinvesting the money in a new account with them. I was able to get through by phone easily and the lady I spoke to was extremely helpful. Other banks take note.

Just want to leave a review for Louise Keane who helps with my BTL mortgages, she’s always professional and very knowledgeable in her field!!!

Thanks
FS North Properties Ltd

A very poor service due to outdated ISA transfer systems means an ISA I tried to transfer was severely delayed and therefore fell outside the ISA 'wrapper' meaning I am now out of pocket. I had spoken to a customer service representative to check that all was in order following my ISA transfer request. I was told that so long as I had completed the transfer request all would be handled. The conversation had taken 10 seconds and there was no detail provided. I had not realised that a paper transfer request was needed - that was my fault - but the service rep did not mention it, and given it is a common cause of complaint it fell between the lines. Once I wrote to the customer complaints team I received a proper explanation as to the steps required. A very out of date process. Beware, it could cause you to loose out. I'm very unhappy.

Been wanting to speak to a mortgage advisor to renew my mortgage. Keep bieng promised phone calls for nearly 4 weeks. Very disappointing.

Very poor experience today, phoned up to sort a very minor request and had to wait over 90 mins for the other person to answer and then cut me of immediately, absolutely shocking, telephone support used to be really good but now days it is shocking

Let down by Virgin Money but Aldermore to the rescue, yet again.We have been customers for over 14 years now and the level of service has always been exemplary.Nice people, always very helpful and courteous and we could not be happier; recently spoke to Robert who was brilliant and efficient..

Aldermore makes withdrawal of money/closure of account fairly complicated despite passing all security questions. Instead of sending a code by text message/email to " verify nominated account" Aldermore is sending this code by post. Why is that safer than sending code by text message??

If I could have left zero stars I would have done.

They call themselves a specialist lender, I’m an experienced portfolio landlord and have never experienced such a shambles of a lender from the very start till the end today. A whole 3 months of sheer incompetence and lack of basic knowledge from their underwriting team.

Multiple questions which were referred to my accountant and delays in responses, blamed their systems etc. I found the problem being a lack of basic knowledge about the tax system and property ownership vs accounting.

My accountant politely explained in detail how my accounts were structured even including extracts from HMRCs own website and guidance, yet my remortgage was dismissed without an appeal.

I have over 15th experience in property investing and worked with multiple lenders, both specialist and mainstream. I have never in all this time known anything as absurd as this case, this sentiment was echoed by my broker who was speechless.

I jumped through numerous hoops now here I am left facing into huge rate increases vs where I was mid January when I could have done a simple
product transfer - I wish I’d never entertained Aldermore and certainly will be warning other investors about using this company.

I applied for a 5-Year Fixed Rate Account and was asked to upload my ID and proof of address. I did this immediately and received an email confirming the documents were successfully uploaded, stating they would be reviewed within 5 business days.
Those 5 days came and went with absolute silence. Then, over a week later, I received another automated email asking me to upload the exact same documents again, as if the first successful upload never even happened. After that? Complete radio silence.
If a bank can't handle basic onboarding paperwork or communicate effectively when you are trying to give them your money, how can anyone trust them to lock away their savings for 5 years? I lost all confidence in their competence, abandoned the application, and took my funds to a competitor. Avoid.

Been a customer many years... good rates of interest and service ok.However if you are an existing customer, your loyalty will not be rewarded
My issue 5 double savings account pays a lower rate than new issue 8.. but they don't tell you when there's a better rare for exactly the same kind of account.(You are expected to keep checking for new issues and then close your old account and open a new one.)
Lost any trust I had in Aldermore Bank.
I think it's shameful treatment and they should reflect on this policy.
You decide...there are other banks that operate differently.
The response from Aldermore sums up the customer care....they have already written to say that as a matter of policy they do not share new interest rates with existing customers and that I should keep track of them myself!

I received an email from Aldermore inviting me to renew a maturing cash ISA.

I was promised exclusive interest rates in recognition of my loyalty.

Only there weren't any.

Had I not checked elsewhere I would never have known.

Aldermore were offering exactly the same rates to new investors.

A reward for loyalty or an underhand attempt to keep a customer?

You decide.

UPDATE: Re Aldermore's reply: It's not my 'experience'. It's a fact, plain and simple. Existing customers were informed they were being rewarded for their loyalty when they were not.

I applied to move to 6 months of interest-only mortgage payments on 28th January, and got an automated email that said I would receive a decision within 5 working days.

This did not happen.

I contacted Aldermore on 10th February, and waited on hold for 50 minutes to be told they had no record of my application, despite me receiving an automated response. The member of staff I spoke to was apologetic and helpful, and I re-sent the form.

I got confirmation on 15th February that my application had been successful, but because of the timescale (caused by them losing my application) the full payment would be taken out on 28th February, but I would receive a refund of £255 within 6 working days.

This did not happen.

I contacted Aldermore on Friday 13th March. Despite entering my correct account number twice, the automated system informed me that this was an incorrect number.

After spending 45 minutes on hold I was told that although there was an action on my file to get this payment to me on March 10th, for some reason it hadn't happened. I was told that Aldermore would try to get it into my account that day.

This did not happen.

It is now the early afternoon on 16th March. There is still no payment, and I am now 43 minutes into waiting to speak to someone, and using the time to type this review.

I was originally 'first in line', but after 20 minutes of waiting, someone answered and told me I'd come through to the wrong department, despite me ringing the number on Aldermore's website that is clearly labelled 'mortgage complaints'. The member of staff was dismissive, didn't give his name, and simply said he 'didn't know' why the number wasn't the right one. No apology, no offer to make sure that it would be changed - nothing.

I had to speak over him to ask if I'd be put back on hold again, as I'd just spent 20 minutes being 'first in the queue'. He reassured me that no, the wait wouldn't be that long.

I am still 'third in the queue' and my total time on the phone so far is 50 minutes.

Because I had budgeted for this money going into my account on the 10th of March, I have missed a credit card payment, a mobile phone contract payment, and have gone over my arranged overdraft.

56 minutes, and I've just got to speak to a human...