The specialist lender Aldermore has enhanced its affordability criteria on residential mortgages for owner occupiers.
Aldermore’s criteria improvements will increase the maximum borrowing capacity by circa 9% on average, according to the bank’s calculations. The change brings more optionality to bear for customers from an initial term perspective, closing the gap between less than 5 year and 5 year deals.
This follows hot on the heels of Aldermore’s most recent product enhancements last week, when the lender introduced new limited edition deals for landlords alongside a suite of rate reductions across the broader range.
Jon Cooper, director of mortgages at Aldermore, comments:
“This is another change that we were keen to make for brokers and their clients, offering owner occupiers significantly enhanced capacity to borrow. We’re a lender that listens to what our brokers and our borrowers tell us they need, and we’ll continue to make targeted improvements like this on an ongoing basis.”
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