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Aldermore cuts three-year fixed rates on commercial mortgage range

POSTED: 7th August 2013
IN: Newsroom
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Aldermore, Britain's leading challenger bank, has today reduced its rates across several of its three-year fixed rate commercial mortgage products.

Three-year fixed rates have been reduced from 6.19 percent to 5.99 percent on the complete range of investment and owner-occupied products.

Residential investment rates at 70 percent LTV have fallen to 5.89 percent on both interest only and capital and interest options, having previously been 6.19 percent.

The new rates in full are:

Residential Investment Reduced from 6.19% to 5.89%

  1. Amortising up to 70% LTV
  2. Interest only for 2 years up to 60% LTV
  3. Interest only for 3 years up to 50% LTV
  4. Interest only for 10 years up to 70% LTV

 

Commercial Investment & Commercial Owner Occupied at Reduced from 6.19% to 5.99%

  1. Amortising up to 70% LTV
  2. Interest only for 2 years up to 60% LTV
  3. Interest only for 3 years up to 50% LTV

 

Commenting on the release of the reduced rates, Aldermore's Commercial Mortgages Managing Director, Rob Lankey, said: "In light of the recent GDP figures and the Bank of England's decision to hold the base rate at half a per cent yet again, there is more optimism about the British economy and as a consequence, greater certainty for investors too.

"We are seeing greater activity across the commercial and residential investment mortgage sector and these new rates demonstrate Aldermore's continued determination to offer competitive rates across the market."


**Ends**

For further information journalists can contact:
Adam Taylor, adam.taylor@cicero-group.com, 020 7297 5971

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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