The new simplified product range, which will be available for both house purchase and remortgaging, includes the following features:
Residential mortgages – up to 80% LTV
• Two year discounts and term variable rates from 4.28%
• Two, three and five year fixed rates from 4.48%
• Fixed price completion fees on all products
Buy-to-let mortgages – up to 75% LTV
• Two year discount and term variable rates from 4.98%
• Three and five year fixed rates from 5.68%
• Five year fixed rate with a fixed price completion fee of £1,999
In addition, all remortgages, which can be used to raise capital for either personal or business use or home improvements, include a free conveyancing package (there is no interest rate loading).
Brokers can obtain an immediate decision in principle online, where they will find that decision-making is not dependent on credit scoring, but is based on "sensible underwriting rules and criteria applied by experienced people" according to the lender.
Charles Haresnape, managing director of residential mortgages at Aldermore, said: “Brokers will find a lot to like in our new product range, including a choice of residential two year discount and term variable rates, as well as two, three and five year fixed rates aimed at borrowers looking to protect their mortgage payments against future interest rate increases.
“Our new buy-to-let range also offers a choice of two year discount and term variable rates and three and five year fixed rates for investors looking for rate security or who simply want to lock in rental yield. We anticipate our very competitive five year fixed rate with a fixed price completion fee will appeal to longer term investors.”
