Aldermore offers 4.98% Help to Buy mortgage guarantee product

Ryan Bembridge

September 8, 2016

charles haresnape

Aldermore has reduced its Help to Buy mortgage guarantee rate to 4.98% for 2-year fixes to 95% loan-to-value.

The product comes with a £999 fee for loans between £25,000 to £400,000.

Charles Haresnape (pictured), Aldermore’s group managing director, mortgages, said: “We are delighted today to be improving our Help to Buy: mortgage guarantee product to help borrowers with smaller deposits.

Government ends Help to Buy: mortgage guarantee scheme

“Our new two-year rate is not tiered, with borrowers offered the same rate whether applying for a loan of 90% or 95% of the value of the property.”

Nearly 80,000 mortgages have been completed using the mortgage guarantee scheme since its launch in 2013, with four in five completions being for first-time buyers.

The scheme will end in December 2016.

Haresnape added: “Aldermore is pleased to help as many of those looking to take advantage of the programme as possible, before the scheme ends.”