Mortgage News
Aldermore to temporarily withdraw and reprice all fixed rates next week
Aldermore will briefly withdraw all its residential owner occupied and buy-to-let mortgage fixed rates at 6pm on Monday.
In a note to brokers, the lender said that the move was due to changes in swap rates and volatility in the market.
Aldermore said that brokers had until 6pm on Monday to submit a decision in principle, which would lock in the rate, stress test and criteria.
Brokers then have a further 10 days to package the case and convert it to a full mortgage application.
The lender continued that it would be relaunching its new mortgage range on Tuesday, which would include buy-to-let, residential owner-occupied and product switch rates.
Aldermore adds that it would be bringing out a limited edition buy-to-let product for multiple properties on one application. It allows two to 30 properties to be placed in one application, so there is one account number, one loan to value (LTV) and one stress test.
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Aldermore was contacted for comment.