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Our mortgage products explained

Take a look at the different types of mortgages we offer.

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If you have any questions, our team will be happy to help.

Take a look at our current rates and what will happen in the future.

When you initially applied for a mortgage with Aldermore, you may have been advised to take a fixed rate. A fixed rate is a rate that will not change for a set period of time, be it 2 year, 3 years or 5 years. This means your monthly payments are protected from the effects of the market interest rate fluctuations during this period of time. So if rates increase, your payments will not rise, but likewise, if rates reduce, your payments will not reduce.

After a fixed rate, your mortgage will continue on a variable rate (the reversion rate), which will be linked to Aldermore’s Managed Rate (AMR). This will typically move in line with Bank of England Base Rate (BBR) changes, but could also change at any other point in time as this is a variable rate set by Aldermore. If the reversion rate is higher than your fixed rate, your payments will increase. If the reversion rate is lower than your fixed rate, your payments will reduce. The details of this rate can be found on your mortgage offer and your annual mortgage statement. You can use our calculator for guidance on what your payment might be. Please note this will provide approximate guidance, as this will not take into consideration your account specifics, such as your payment date, any additional payments made and the exact number of payments you need to make to repay your mortgage.

After your fixed rate, you may wish to fix your mortgage again for another period of time. This might be appropriate if

  • You do not have any plans to move home in the next 2-5 years
  • You will not be making any large repayments off your mortgage (above £5000 per year) during the next 2-5 years
  • You are concerned about the possibility of rate rises and would prefer the security a fixed rate offers


Please contact our team on 0333 920 7562 for more information, or email customer.loyalty@aldermore.co.uk

When you initially applied for a mortgage with Aldermore, you may have been advised to take a discounted rate. A discounted rate is a rate that offers a discount for a set period of time, be it 2 year, 3 years or 5 years. This is a variable rate so it means your monthly payments are not protected from the effects of the market interest rate fluctuations during.  Discounted rates are linked to Aldermore’s Managed Rate (AMR). This will typically move in line with Bank of England Base Rate (BBR) changes, but could also change at any other point in time as this is a variable rate set by Aldermore.

After the discounted period, your mortgage will continue on a variable rate (the reversion rate), this will normally be a higher payment than you have been making. The details of this rate can be found on your mortgage offer and your annual mortgage statement. You can use our calculator for guidance on what your payment might be after your discounted period, or if rates do change. Please note this will provide approximate guidance, as this will not take into consideration your account specifics, such as your payment date, any additional payments made and the exact number of payments you need to make to repay your mortgage.

At any stage, you may wish to fix your mortgage rate for a period of time. This might be appropriate if –

  • You do not have any plans to move home in the next 2-5 years
  • You will not be making any large repayments off your mortgage (above £5000 per year) during the next 2-5 years
  • You are concerned about the possibility of rate rises and would prefer the security a fixed rate offers
  • Consideration should be made to the cost of any early repayment charges, if you chose to explore this decision during your discount period.


Please contact our team on 0333 920 7562 for more information, or email customer.loyalty@aldermore.co.uk

When you initially applied for a mortgage with Aldermore, you may have been advised to take a term variable rate. A term variable rate provides a discount for the full period of your mortgage, so it can be a very good option, as the total amount you will repay on your mortgage is lower than our other products – assuming rates do not change for the term of your mortgage. However, this is a variable rate, and therefore if rates do increase, your mortgage payments will be higher, and the total amount you repay will increase.

Term variable rates are linked to Aldermore’s Managed Rate (AMR), which is a variable rate set by Aldermore, and does not have a direct link to the Bank of England Base Rate (BBR). Typically the AMR will move in line with BBR changes, but could also change at any other point in time, as this is a variable rate set by Aldermore.

Our calculator can provide some guidance as to how your payments will be affected by any changes. Please note this will provide approximate guidance, as this will not take into consideration your account specifics, such as your payment date, any additional payments made and the exact number of payments you need to make to repay your mortgage.

At any stage, you may wish to fix your mortgage rate for a period of time. This might be appropriate if –

  • You do not have any plans to move home in the next 2-5 years
  • You will not be making any large repayments off your mortgage (above £5000 per year) during the next 2-5 years
  • You are concerned about the possibility of rate rises and would prefer the security a fixed rate offers
  • Consideration should be made to the cost of any early repayment charges, if you chose to explore this decision during the first three years of your mortgage.


Please contact our team on 0333 920 7562 for more information, or email customer.loyalty@aldermore.co.uk

When you initially applied for a mortgage with Aldermore, you may have been advised to take a mortgage that is linked to the LIBOR rate, either immediately or after the fixed rate period. LIBOR rates are set every 3 months at Aldermore, and if rates do change, your interest rate and your payment will be affected.

Term variable rates are linked to Aldermore’s Managed Rate (AMR), which is a variable rate set by Aldermore, and does not have a direct link to the Bank of England Base Rate (BBR). Typically the AMR will move in line with BBR changes, but could also change at any other point in time, as this is a variable rate set by Aldermore.

After a fixed rate, your mortgage will continue on a variable rate (the reversion rate), which will be linked to the LIBOR rate. If the reversion rate is higher than your fixed rate, your payments will increase. If the reversion rate is lower than your fixed rate, your payments will reduce. The details of this rate can be found on your mortgage offer and your annual mortgage statement. You can use our calculator for guidance on what your payment might be. Please note this will provide approximate guidance, as this will not take into consideration your account specifics, such as your payment date, any additional payments made and the exact number of payments you need to make to repay your mortgage.

Please contact our team on0333 3211000for more information, or email customer.loyalty@aldermore.co.uk

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

The content published on this website is intended to provide information only. The reader should seek advice from experts on the subject matter and independently verify the accuracy and relevance of any information provided here before relying upon it or using it for any reason. You can view our terms and conditions here.

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