Aldermore announces changes to variable mortgage rates

POSTED: 30th March 2020
IN: Newsroom

Aldermore has today confirmed it will be decreasing variable mortgage rates by 0.65% following the Bank of England’s decision to decrease the Bank Base Rate from 0.75% to 0.25% on 11 March, and then to 0.10% on 19 March.

Customers with mortgages linked to the Bank of England Base Rate (BBR) will decrease by 0.50% on 1 April 2020, and then by a further 0.15% on 1 May 2020.

The Aldermore Managed Rate (AMR), the Bank’s standard variable mortgage rate, will decrease from 5.23% to 4.58% for new and existing customers on 1 May 2020.

Aldermore customers affected by the announcement will be informed of the changes to their account in line with their account terms and conditions.

*Ends*

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