Commercial director of mortgages at Aldermore, Charles McDowell, hopes the changes re-affirm their commitment to SME's.
Aldermore has refreshed its commercial investment and commercial owner occupied mortgage range.
The bank now offers a choice of variable and fixed rate mortgages up to 75% loan-to-value (LTV) available for loans up to £1m.
Aldermore has also introduced a new 70% LTV tier and will also offer products across three tiers, up to 60%, 70% and up to 75%.
Charles McDowell (pictured), commercial director of mortgages at Aldermore, said: “We are pleased to be reducing rates across a range of our commercial investment and commercial owner occupied mortgages, encouraging businesses to invest in their future.
“With such competitive fixed rates available, our new products offer commercial borrowers the option to choose the security of fixed payments for three or five years at limited additional cost.”
Further changes include all variable rates re-priced starting from 4.59%, and new 3-year fixed rates, starting from 4.69% and now just 0.10% above variable rates.
New 5-year fixed rates starting from 4.79%, a new 70% LTV tier, and commitment fees reduced to 0.25% from 0.50% are other changes that have been announced by Aldermore.
McDowell continues: “In addition, Aldermore’s human approach, with each application assessed by an individual underwriter, gives businesses the flexibility to shape a deal in the best possible way for their future, and our new products reaffirm our commitment to supporting SMEs.”
Below are the products available immediately by Aldermore.
| Commercial Investment | Commercial Owner Occupied | |
| Variable term |
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| 3 year fixed rates |
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| 5 year fixed rates |
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