Specialist Bank, Aldermore, has expanded its product offering across its residential mortgage range. The changes include the introduction of:
- 3 year fixed options introduced across our no product fee products
- 85% loan-to-value options on our no product fee purchase products
- Fee Free remortgage products (No product fee, and free legal and free valuation)
- Purchase only - no Product Fee and Free Valuation (max. loan size £500k)
- Up to 85% LTV – rates from 4.18% (new product) offering 2, 3, 5 year fixed
- Up to 90% LTV – rates from 4.58% (rate unchanged) offering 2, 3, 5 year fixed
- Up to 95% LTV – rates from 4.88% (down from 5.08%) offering 2, 3, 5 year fixed
- Fee free remortgage only products, with no product, valuation or legal fee:
- 85% & 90% LTV - Rates from 4.18% (reduced from 4.28%) offering 2 and 5 year fixed, alongside the introduction of a 3 year fixed option
- Purchase and remortgage - £999 product fee (max. loan size £500k):
- Up to 85% LTV – rates from 3.88% (reduced from 3.98%) offering 2, 3, 5 year fixed
- Up to 90% LTV – rates from 4.28% (unchanged) offering 2, 3, 5 year fixed
- Up to 95% LTV (purchase-only) – rates from 4.58% (unchanged) offering 2, 3, 5 year fixed
The product launch complements the announcement last week of the expansion of Aldermore’s lending criteria across its residential mortgage range.
Aldermore is also reducing Early Repayment Charges on 3 and 5 year fixed term mortgages. The changes offer a greater choice to a wide range of borrowers, including first time buyers, second steppers, those looking to remortgage, and those who have had blemishes on their credit in the recent past.
Damian Thompson, Director of Mortgages, Aldermore comments: “Home buyers are more varied and complex than ever before and we want to provide products that fit them, not them that have to fit the product. Aldermore’s human approach to lending allows us to consider each case on its individual merits, so those that don’t fit in the boxes other lenders require have the opportunity to find the mortgage that is right for them.”
For further information, journalists can contact:
Phone: 07721 127514
Phone: 0207 294 3626
Twitter: @AldermoreBank @AldermoreNews
Notes to Editors:
For further information about Aldermore, please review our Notes to Editors page.
Aldermore Bank PLC is an operating entity of Aldermore Group PLC.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.