Aldermore didn't put a time span on the product, which carries a 2% completion fee, but said it will be available for a matter of weeks rather than months.
Charles Haresnape, group managing director – mortgages at Aldermore, said: “With the current range of competitive mortgage products available, it is no surprise that we are seeing higher remortgaging levels, with the number of remortgage loans advanced in September growing by 12% from August, a year-on-year rise of 4%.
“There has never been a better time to take advantage of historic low interest rates, and Aldermore always looks for ways to support its customers in areas where there is a high level of consumer demand.
“This new rate underlines Aldermore’s commitment to offer flexible and competitive finance options to both new and existing customers.”
