Please note Aldermore will always write to customers whose current interest rate and monthly payment amount will change.
Bank of England Base Rate tracker mortgages
Mortgages with a variable rate linked directly to the Bank of England Base Rate will go up or down automatically in line with any Base Rate change.
Mortgages Linked to the Aldermore Managed Rate (AMR)
The Aldermore Managed Rate is our Standard Variable Rate and is not directly linked to the Bank of England Base Rate. The Aldermore Managed Rate is set by Aldermore and term Variable and Discounted Rate mortgages go up or down in line with the Aldermore Managed Rate. The Aldermore Managed Rate can be changed by Aldermore at any time.
Mortgages Linked to LIBOR
The variable interest rates and reversion rates on our commercial and specialist buy-to-let and mortgages are linked to LIBOR, so if LIBOR changes any Aldermore mortgages linked to it would subsequently change.
Our Fixed Rate Mortgages
The interest rate on Aldermore’s fixed rate mortgages will not be affected by a change in the Bank of England Base Rate.
Customers with this type of mortgage would not see a change in their monthly repayment amount for the duration of their fixed deal.
Customers coming to the end of their fixed deal period automatically move to a variable rate linked to the Aldermore Managed Rate (AMR), or LIBOR.