With an offering of a 2 year fixed rate mortgage available up to 75% LTV @ 2.48%, it is Aldermore’s lowest ever remortgage-only product. Additionally, the mortgage range has no upfront fees, although customers will have to pay a £30 funds transfer fee upon completion*.
2 year fixed rate up to 75% LTV 2.48%
2 year fixed rate up to 80% LTV 2.78%
3 year fixed rate up to 75% LTV 2.58%
3 year fixed rate up to 80% LTV 2.88%
Commenting on the new product range, Charles McDowell, Commercial Director, Mortgages, at Aldermore, said: “Our new remortgage product offering, in conjunction with our manual approach to underwriting, is ideal for those customers who are currently “trapped” on their Standard Variable Rate (SVR). As people’s circumstances change, for example if they have become self-employed or have split from a partner, their affordability may be impacted which means they may not be able to switch to another deal with their current lender. There are millions of borrowers across the U.K. on SVR who could be getting better deals. Now is the time for advisors to get in front of those borrowers.
“These borrowers often do not fit the ‘norm’ for many lenders and it can be a real challenge for them to receive the financial support they need. Our human approach to lending, and our specialist advisers consider each case on an individual basis which gives us more of an opportunity to support our customers and help them save money, whatever their circumstances.”
Furthermore, Aldermore has made some changes to its high-LTV rates, these products help those with a small deposit get onto or move up the property ladder:
High LTV Purchase and Remortgage Products:
2 year fixed rate up to 85% LTV 4.78%
3 year fixed rate up to 85% LTV 4.88%
5 year fixed rate up to 85% LTV 4.98%
High LTV Purchase Only Products:
2 year fixed rate up to 95% LTV 5.28%
2 year fixed rate up to 95% LTV 5.48% (no product fee^)
3 year fixed rate up to 95% LTV 5.38%
3 year fixed rate up to 95% LTV 5.58% (no product fee^)
5 year fixed rate up to 95% LTV 5.48%
High LTV Remortgage Only Products:
3 year fixed rate up to 85% LTV 5.18% (no valuation, legal or product fees^^)
Notes to editors
*Remortgage products with no upfront fees will still require payment of a £30 funds transfer fee, free standard legal and valuation fees will be paid for by Aldermore, but any additional charges may be passed on to the client.
^ Legal fees, valuation fee and £30 funds transfer fee apply
^^A non-refundable application fee of £199 (payable on application) and funds transfer fee of £30 payable on completion will apply, free standard legal and valuation fees will be paid for by Aldermore, but any additional charges may be passed on to the client.
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For further information, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Rozie Green, Lansons
Phone: 0207 566 9724