Key benefits of choosing Aldermore
Aldermore has joined the Government's Help to Buy: mortgage guarantee scheme, which enables participating lenders to purchase a guarantee, enabling us to provide mortgages up to 95% loan to value.
The scheme aims to help both first time buyers and home movers who have deposits of at least 5% to buy a property in the UK, as well as those who are looking to remortgage* and switch from their current lender.
So, if you can afford to repay a mortgage but don't have a large deposit, this scheme could be the answer. It gives you access to higher loan to value lending, meaning you won't have to wait and save up for a large deposit to buy or move home.
To be eligible for the Help to Buy: mortgage guarantee scheme:
- it must be a residential mortgage, so you will be planning to live in your house and not rent it out;
- the property you want to buy must be in the UK and the purchase price (or the property value if the loan is a remortgage) must be £600,000 or less;
- the mortgage must be taken out on a repayment basis, rather than interest-only;
- the mortgage must be to buy your only property, so you cannot have an interest in any property, anywhere in the world; and
- the maximum loan is £400,000.
The scheme does not guarantee your mortgage payments. You are responsible for paying your mortgage under this scheme in exactly the same way as any other mortgage. The benefit to you is that it may enable you to get a mortgage to buy your home with a lower deposit.
Our 2 year fixed rate mortgage products are available under the Help to Buy: mortgage guarantee scheme for mortgages between 85% and 95% of the property value or purchase price.
For more details speak to one of our qualified mortgage advisors or go to the Help to Buy Scheme website.
*Where the remortgage involves the advance of additional funds, none can be used to purchase an interest in another property/wherever situated.
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