Close

Aldermore reduces Help to Buy: Mortgage Guarantee rates by over 1%

POSTED: 8th September 2016
IN: Newsroom
Share:

Aldermore is increasing its support for first-time buyers by reducing rates on its Help to Buy: mortgage guarantee offering by over 1%.

From today (8 September) Aldermore is replacing its existing two-year fixed rate products with a standard, non-tiered offer.

Available immediately, the new product offers:

  • 4.98% two-year fixed rate
  • LTV - up to 95%
  • Fee of £999 (no application fee applies)
  • Loan size - from £25,000 to £400,000 on a capital repayment basis

Charles Haresnape, Aldermore’s Group Managing Director, Mortgages, said:

“We are delighted today to be improving our Help to Buy: Mortgage Guarantee product to help borrowers with smaller deposits. Our new two-year rate is not tiered, with borrowers offered the same rate whether applying for a loan of 90% or 95% of the value of the property.

“Almost 80,000 mortgages have been completed with the support of the mortgage guarantee scheme since its launch in 2013, and it has had an extremely positive impact across the UK. Four out of five of those mortgage completions were for first-time buyers, and Aldermore is proud to support those individuals looking to buy a home.

“With rising house prices, many first-time buyers are struggling to raise the initial deposit they need to get on the housing ladder. With the Help to Buy: mortgage guarantee scheme set to close in December 2016, Aldermore is pleased to help as many of those looking to take advantage of the programme as possible, before the scheme ends.”

**Ends**

For further enquiries, journalists can contact:

Johnathan Priestley, Cicero Group
Phone:          0207 297 5954
Email:           Johnathan.Priestley@cicero-group.com

Chelsey Palmer, Aldermore
Phone:          020 8185 3142
Email:           Chelsey.Palmer@aldermore.co.uk

Notes to Editors:

Aldermore

Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.

Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.

Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.

Established in 2009, Aldermore has grown significantly. At the end of June 2016, lending to customers stood at £6.8 billion and customer deposits totalled £6.5 billion.

For more information, please visit www.aldermore.co.uk.

Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.

Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.

 

  • Mortgages
  • Press Release
  • Help to Buy

Published: