The lender's reintroduced tiers, Level 2 and Level 3, mean it can now consider those with more complex credit issues in their past, such as CCJs or defaults registered over six months, bankruptcy or IVA discharged for two years, mortgage or secured loan arrears over three months ago, or forced or voluntary possessions older than three years.
Aldermore has reintroduced a number of products and rate reductions in its residential mortgage range in order to support homeowners and first-time buyers.
The lender's reintroduced tiers, Level 2 and Level 3, mean it can now consider those with more complex credit issues in their past, such as CCJs or defaults registered over six months, bankruptcy or IVA discharged for two years, mortgage or secured loan arrears over three months ago, or forced or voluntary possessions older than three years.
The new products available within Level 2 are 2- and 5-year fixed-rate options from 3.68% with loan-to-value (LTV) up to 80% and within its Level 3 range, 2- and 5- year fixed rate options from 4.18%, with LTV up to 80%.
Aldermore has also made reductions at 85% and 90% LTV on its £999 fee products of between 0.20% and 0.30%.
As well as this, it has reintroduced zero product fee options at 85%, 90% and 95% LTV with free valuations and free legals on remortgages.
Jon Cooper, commercial director of mortgages, Aldermore, said: “Life is a long road with many experiencing bumps along the way so it’s reasonable to expect some may have had credit blips in the past.
"At Aldermore, we believe that less than perfect credit shouldn’t be a complete barrier to home ownership and people deserve the opportunity to realise their life goal of finding a home.
“We’re delighted to announce our expanded range for homeowners and first time buyers and, through our human approach to lending which enables us to consider each case on its individual merits, we can support customers in finding the right mortgage for them.”
