It reduces rates on BTL, residential owner-occupied and loyalty ranges
Aldermore has announced rate reductions across its buy-to-let and residential owner-occupied mortgages for both new and existing customers.
Products on the lender’s buy-to-let range had their rates slashed by up to 50 basis points (bps), including two- and five-year fixed deals for individual and company landlords with single residential investment properties, houses in multiple occupation, and multi-unit freeholds.
On its residential owner-occupied range, Aldermore reduced rates by up to 60bps for standard level 1 and 2, and up to 70bps for high loan-to-values (LTVs). There was also a 0.25% rate reduction for variable products.
For existing customers across product switch ranges, where the products are all fee-free, the lender cut rates of two- and five-year fixed standard products by 60bps and 50bps respectively. Two- and five-year fixed high LTV and Help to Buy equity loan products had their rates reduced by 70bps. The rate cut for variable products was also 0.25%.
The rate changes come a month after Aldermore announced new pledges for its broker partners, such as the lender’s promise to provide at least one full working day’s notice of any product withdrawal and a guarantee of a period of 10 days to convert a decision in principle into a full mortgage application.
“Our core purpose is to help people go for it in life, and our rate reductions offer something for everyone, whether it’s landlords, home movers, existing homeowners wanting to remortgage or those looking to get on the property ladder for the first time,” stated Jon Cooper (pictured), head of mortgages at Aldermore.
“We know that people’s circumstances can be varied and complex, and that they often don’t fit in to the boxes other lenders require them to, so it can be a real challenge to receive the financial support they need. Our human approach to lending, and our specialist advisers consider each case on an individual basis, which gives us more of an opportunity to support our customers in helping them to find the mortgage that is right for them.”
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