Rates on high LTV fixes for owner-occupiers were reduced by up to 0.35%
Aldermore has announced rate reductions across its mortgage range and a free valuation offer on all applications for residential owner-occupied products and single residential buy-to-let properties, including those submitted on multi-property applications.
The bank said it is reducing its high loan-to-value (LTV) fixed rate mortgages for owner-occupiers by up to 0.35%, alongside reductions of 0.10% on five-year buy-to-let fixed rates. There are further rate reductions on its product switch range for existing owner-occupied and BTL customers.
Standard level two fee-free products for owner-occupiers, which were previously for remortgages only, are now available for purchases and remortgages.
For new customers, 85% and 90% LTV residential owner-occupied two- and five-year fixes with options of a £999 fee and fee-free were reduced by up to 0.35%.
All five-year buy-to-let fixed rates for new customers have decreased by 0.10% at 75% LTV versus previous rates.
FOR INTERMEDIARY USE ONLY
— Aldermore Bank (@AldermoreBank) April 17, 2023
We’re always looking for ways to improve our service, which is why we’ve introduced free valuations on all our residential owner occupied mortgage range - find out more https://t.co/piYICcaiDk pic.twitter.com/I8MlzGOIgY
For existing customers, residential owner-occupied two- and five-year fixes have been reduced by 0.24% at 85% LTV and by 0.35% at 95% LTV. Individual landlords with single residential investment properties can avail of five-year fixed rates that were decreased by 0.10% across all LTV bands versus previous rates, now from 5.74%.
Since the start of the year, Aldermore has made several major mortgage rate cuts, with the one before the latest rate reduction offering lower rates of up to 0.75% for landlords and up to 1.34% for owner-occupiers.
“The homebuying process is costly and fees can quickly accumulate, which is why we’re delighted to offer free valuations for both owner-occupier and single residential BTL applications,” Jon Cooper (pictured), head of mortgages at Aldermore, commented.
“We’re also pleased to reduce rates across our mortgage range, giving customers more affordable options and even more choice to support their homebuying goals.”
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