Aldermore reintroduces 95% LTV mortgages

Jake Carter

March 25, 2021

Aldermore bank has reintroduced 95% LTV mortgage products for a limited period.

The products will be available from 25 March, with the view to reintroduce it permanently in the near future.

The offerings include a 95% LTV 2-year fix at 5.08%, and a 95% LTV 5-year fix at 5.28%.

Both products include a £999 fee and are for purchase only.

As well as this, the bank has made a series of rate reductions to products at the 85% and 90% LTV tiers.

The 85% LTV 2-year fix has been reduced from 4.38% to 4.08%, and the 85% LTV 5-year fix from 4.58% to 4.28%.

The 90% LTV 2-year fix has been cut from 5.28% to 4.78%, and the 90% LTV 5-year fix from 5.38% to 4.98%.

All four offerings include a £999 fee and are for purchase or remortgage.

Jon Cooper, head of mortgage distribution at Aldermore, said: “We’re delighted to be one of the first lenders to reintroduce our 95% LTV proposition to meet the strong demand from first time buyers right now.

“Lockdown has given many people the chance to focus on their long term goals and, with three fifths (63%) of first-time buyers saying they are now more motivated to buy, we want to provide greater choice and opportunity to help new buyers realise their dreams of becoming home owners.

“While initially introduced for a limited time period, we look forward to permanently introducing our 95% LTV proposition in the near future.

“Aldermore has been a big supporter of the Help to Buy scheme since 2013 and continue to support the equity loan and ISA products.

“But as the market has evolved rapidly the past few years, we believe we can serve low-deposit first time buyers better going forward, in particular those that are self-employed or that have had credit issues in their past, with our own products and services independent of the scheme.”

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