Opening doors to Residential Mortgages

We provide mortgages to creditworthy borrowers denied access to high street products.

We use experienced underwriters to assess applications, not automated credit scoring systems.  So if your creditworthy client has been turned away by high street lenders, get in touch. We're here to help you deliver a service and solution they simply won't find anywhere else.

Newsflash! Fees can now be added to our mortgage loans

We pride ourselves on responding to the needs of our brokers and the changing market, so here's some welcome news.

In response to your feedback, your clients can now choose to add the following fees to their Aldermore Buy to Let or Residential* mortgage:

• Completion fee
• Electronic transfer fee

Added fees will be excluded from the LTV calculation but included in the affordability assessment. Where fees are added to the loan they will attract interest over the mortgage term.

*Excludes the Family Guarantee Mortgage and NewBuy

Over recent months, we've also introduced the following criteria enhancements to make our products even more attractive to your clients:

• Full family gifted deposits now accepted from close relatives, including step relatives on all Residential and Buy to Let purchases.
• Let to Buy now available up to 80% LTV** for the remortgage of an existing residential property on to a BTL mortgage.

** Maximum 75% LTV for first time landlords

 
View our full product range

Down, down, down! BTL and Residential rates reduced by up to 0.60%

At Aldermore we're not letting the cold weather get in our way and are committed to warming up the housing market. So we've cut our interest rates by up to 0.60%, on Residential products and up to 0.40% on Buy to Let.

Buy to Let:

• DOWN - BTL 2 Year fixed reduced to 4.48% up to 75% LTV
• DOWN - BTL 3 Year fixed (2.50% fee) reduced to 4.48% up to 75% LTV
• DOWN - BTL 3 Year fixed (£999 fee) reduced to 4.78% up to 75% LTV
• DOWN - BTL 5 year fixed reduced to 4.78% up to 75% LTV
• DOWN - BTL 2 year discount reduced to 4.48% up to 75% LTV
• NEW - BTL 2 year discount 4.98% at 80% LTV

 

View our full Buy to Let range

 

Residential rates from just 3.98%

• DOWN - 2 Year fixed reduced to 3.98% at 65% LTV, 4.48% at 75% LTV and 4.88% at 80% LTV
• DOWN - 3 Year fixed reduced to 4.28% at 65% LTV and 4.68% at 75% LTV

 

View our full Residential range

As 2013 progresses we'll keep on bringing you mortgages for homebuyers and landlords who break the mould, meeting the needs of real people, not banking stereotypes, no matter how complex.

Full Family Gifted Deposits -  Now accepted by Aldermore

With property prices remaining high, we know how hard it can be for borrowers to get on to the first rung of the property ladder and more and more are turning to the 'Bank of Mum & Dad' to help raise a deposit.

In response to this need, we've introduced enhanced criteria on our Residential and Buy to Let product range. We're now accepting full gifted deposits* from close relatives including step relatives. A close relative is defined as a spouse, parent, grandparent, sibling, or child.

• Full Family Gifted Deposits on all Residential purchases
• Full Family Gifted Deposits on all BTL purchases

View our full Residential & Buy to Let range

We're also extending the offer period on new build purchases to 180 days - just another way we're championing British homeowners.

These exciting criteria enhancements will help us to meet the needs of your customers who break the mould, by meeting the needs of real people and not banking stereotypes.

*Please note that criteria in relation to inter family sales and sale at under value remain unchanged.

 

Let To Buy - Now available from Aldermore

Letting out an existing property rather than selling is an attractive option in today's housing market. 

With this in mind, we are delighted to confirm that we will now accept Let to Buy applications in the following circumstances:

Remortgage of an existing residential property onto a Buy to Let mortgage*.

Your clients can also benefit from:

• Lending up to 80% LTV (maximum 75% for first time landlords)
• Capital raising up to product maximum LTV (ideal for raising a deposit for a new property)
• Standard Buy to Let range and criteria applies - rates starting from just 4.48%

We hope that you find this important criteria enhancement beneficial - we have certainly seen growing demand for this facility and are delighted to extend our Buy to Let lending criteria to accommodate a Let-to-Buy option.

*A copy of the new residential mortgage offer will be required prior to completion.

 

View all our latest rates.

Mortgages for customers that break the mould

Lower rates are one thing. Getting your applications approved is another...We believe mortgages should be flexible to fit different kinds of people. So we'll assess your customers' applications based on individual circumstances, not stereotypical mortgage tick boxes, using sensible criteria applied by real, experienced people.

View our lending criteria.

To get the housing market moving, action speaks louder than words. Submit a DIP today.

 

Waving the flag for BTL

The Buy to Let market has continued to grow, with further opportunities for investment.  We'll continue to champion BTL with competitive rates and award-winning service.  Remember that all our decisions are based on refreshingly sensible underwriting rules and flexible criteria applied by real, experienced people.

No one's doing more than Aldermore for BTL so download the latest product guide, featuring all our current rates and criteria.

Find out more

 
We're improving our range all the time, so keep checking back for new products and further enhancements.

 Who we lend to

Aldermore residential mortgages are designed for creditworthy borrowers. However, we will take into account factors that can cause credit score fails. For example, applicants:

• not yet on the voters roll because they have recently moved home
• who have recently changed their job
• who have satisfactorily resolved minor historic credit issues
• who are self-employed with income generated via multiple sources
• who are self-employed and disadvantaged by credit scoring systems favouring salaried applicants
• currently living in rented accommodation, because they have sold their previous house

Your clients first

Our staff will look after your clients' mortgages from application through to post completion and customer service - and provide everything they may need in between.

Unlike most other lenders, we don't sub-contract mortgage servicing to third party administration companies. We take care of everything - including the normal day-to-day running of your clients' mortgages.

To find out more, call us on 0333 321 1000 or email mortgage.sales@aldermore.co.uk