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Aldermore extends Help To Buy range

Ryan Fowler

February 19, 2014

The 3-year fixed rate is available at 5.63%, while the 5-year rate is 5.73%, both at 90% and 95% loan to value.

All of the Help to Buy products are subject to a £999 arrangement fee.

Charles Haresnape, Aldermore Residential Mortgages managing director, said: “We have extended our Help to Buy mortgage guarantee range in order to give customers greater choice and in response to customer demand.

“We have received a high number of enquiries, and we have offered in excess of 1,300 decisions in principle to Help to Buy applicants.”

Aldermore’s 2-year fixed rate product was released in mid-December under the scheme.

The bank is also increasing its standard range to include new fixed and variable rates up the 85% loan to value.

Haresnape added: “Interestingly, most of our applicants are coming from northerly regions and are first time buyers, so the scheme is certainly helping to get more people onto the housing ladder.”

“We are optimistic that with the increased confidence in the economy, more sellers will come into the market and increase supply in order to keep up with the high demand, which will help to keep house prices on a solid and sustainable upward trajectory.”

On its buy-to-let range for loans up to £1m the bank increased its loan to value threshold from 65% to 70%.


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