Aldermore reduces mortgage rates

Jessica Nangle

March 7, 2017

Aldermore has reduced rates on its residential mortgage range by up to 0.5%.

Mortgages are now available from 2.88% at 75% LTV and improvements have been made to Aldermore’s offering for landlords who are purchasing or remortgaging single residential units.

The new 2-year fixed rates on offer include a 2.98% up to 75% loan-to-value, reduced from 3.48% and a 3.28% up to 80% LTV reduced from 3.78%.

Q&A with Martin Stewart of The Adviser Alliance

The new 3-year fixed rate product includes a 3.08% up to 75% LTV reduced from 3.48% and a 3.38% up to 80% LTV reduced from 3.78%.

5-year fixed rates down by 0.4% with products including 3.18% up to 75% LTV reduced from 3.58%, and 3.48% up to 80% LTV reduced from 3.88%.

Charles McDowell, commercial director of mortgages at Aldermore, said: “Our latest rate reductions offer something for everyone, whether its landlords, home movers, existing home owners wanting to remortgage or those looking to get on the property ladder.”

The remortgage only range has also been changed, with 2 and 3-year fixed decreasing by 0.5% and 0.4% respectively with an application fee of £199.

Help-to-buy and buy-to-let ranges have seen lowered rates at Aldermore and product fees with 5-year fixed rates has been reduced from 2.5% to 2% on 5.28% up to 80% LTV.

McDowell added: “These reductions reaffirm our commitment to offering a range of mortgage options based on customers’ needs and provide support to customers who are hoping to make a move or take their first step on the property ladder.”

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