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Aldermore makes major changes to both its owner occupied and buy to let mortgages

Mortgages 3 min read 23/11/2022

Aldermore today announces significant changes to help both homeowners and landlords find the mortgage that’s right for them, launching a new range of discounted variable as well as fixed rate buy to let and residential owner occupied mortgages:

 

New residential owner occupied 2 year discount rates with ‘switch to fix’ option*

Residential owner occupied standard level 1 with £999 fee:

  • 2 year discount 5.23% to 80% LTV (AMR less 2.25%)

Residential owner occupied high LTV with £999 fee:

  • 2 year discount 5.73% to 90% LTV (AMR less 1.75%)

 

Reduced residential owner occupied 2 and 5 year fixed rates1

Residential owner occupied standard level 1 with £999 fee:

  • 2 year fixed 6.68% to 75% LTV
  • 5 year fixed 6.68% to 75% LTV
  • 2 year fixed 6.98% to 80% LTV
  • 5 year fixed 6.98% to 80% LTV

Residential owner occupied standard level 1 with zero fee:

  • 2 year fixed 6.93% to 75% LTV
  • 5 year fixed 6.78% to 75% LTV
  • 2 year fixed 7.23% to 80% LTV
  • 5 year fixed 7.08% to 80% LTV

Residential owner occupied high LTV with £999 fee:

  • 2 year fixed 7.74% to 85% LTV
  • 5 year fixed 7.98% to 85% LTV
  • 2 year fixed 8.28% to 90% LTV
  • 5 year fixed 8.38% to 90% LTV

Residential owner occupied high LTV with zero fee:

  • 2 year fixed 7.99% to 85% LTV
  • 5 year fixed 8.08% to 85% LTV
  • 2 year fixed 8.53% to 90% LTV
  • 5 year fixed 8.48% to 90% LTV

Residential owner occupied level 2 range with £999 fee:

  • 2 year fixed 7.58% to 75% LTV
  • 5 year fixed 7.78% to 75% LTV
  • 2 year fixed 7.88% to 80% LTV
  • 5 year fixed 7.98% to 80% LTV

Residential owner occupied level 2 range with zero fee (remortgage only):

  • 2 year fixed 7.83% to 75% LTV
  • 5 year fixed 7.88% to 75% LTV
  • 2 year fixed 8.13% to 80% LTV
  • 5 year fixed 8.08% to 80% LTV

Aldermore also announces substantial enhancements to its buy to let mortgage range.

 

New buy to let 2 year discount rates with ‘switch to fix’ option*

Buy to let for individual landlords with single residential investment properties:

  • 2 year discount with £1,999 fee, 5.98% to 75% LTV (AMR less 1.50%)

Buy to let for company landlords with single residential investment properties:

  • 2 year discount with £1,999 fee, 5.98% to 75% LTV (AMR less 1.50%)

Buy to let for HMO and multi unit freeholds:

  • 2 year discount with £1,999 fee, 6.48% to 75% LTV (AMR less 1.00%)

Buy to let for multi property individuals and company landlords with single residential investment properties:

  • 2 year discount with £1,999 fee, 5.88% to 75% LTV (AMR less 1.60%)

 

New buy to let 2 and 5 year fixed rates2

Buy to let for individual landlords with single residential investment properties:

  • 2 year fixed with 1.50% fee, 6.99% to 75% LTV
  • 5 year fixed with 1.50% fee, 7.29% to 75% LTV

Buy to let for company landlords with single residential investment properties:

  • 2 year fixed with 1.50% fee, 6.99% to 75% LTV
  • 5 year fixed with 1.50% fee, 7.29% to 75% LTV

Buy to let for HMO and multi unit freeholds:

  • 2 year fixed with 1.50% fee, 7.29% to 75% LTV
  • 5 year fixed with 1.50% fee, 7.44% to 75% LTV

Buy to let for multi property individuals and company landlords with single residential investment properties:

  • 2 year fixed with 1.50% fee, 6.89% to 75% LTV
  • 5 year fixed with 1.50% fee, 7.19% to 75% LTV
  • 5 year fixed with zero fee, 7.49% to 75% LTV

Jon Cooper, head of mortgages at Aldermore, comments:

“We’re delighted to introduce improvements to our mortgage range, providing new pricing to support prospective and existing homeowners and landlords.

“Right now, people need a different type of bank, one that gets finance where it’s needed. Our latest changes will deliver more options to borrowers looking to find the right deal for them.”

**Ends**

 

Notes to editors

*Switch to fix

Our new discounted variable mortgage interest rate is the Aldermore Managed Rate (AMR) reduced by a set percentage for 2 years.

2 year discount product allows a post completion switch to a fixed rate available from our existing customer range without incurring an early repayment charge.

A procuration fee will not be paid for the subsequent early switch onto a fixed rate product, unless the request is made within the standard switch window, i.e. 17 weeks prior to maturity.

The AMR is a variable rate set by Aldermore.

1Rates reduced by up to 0.9% across fixed rate owner-occupied mortgages.

2Rates reduced by up to 0.55% across BTL 5 year mortgages

 

For further information, journalists can contact our PR Team.

For further information about Aldermore, please review our Notes to Editors page.                      

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