After the launch of its revamped buy-to-let range, the bank has introduced new loan to value (LTV) tiers at 50% and 60% as well as maintaining its 75% tiers on its commercial range.
The lender has reduced rates on a number of LTV tiers and variable rates now start at 4.99% down from 5.20%, while new five-year fixed rates have been added to the range, starting at 6.39%.
Fees have also been reduced, including the removal of the fixed rate booking fee of £500. Fixed rate arrangement fees have alson been cut from 2.50% to 1.75%. Arrangement fees can now also be added to the loan.
Charles Haresnape, group managing director, mortgages, Aldermore said: “We have relaunched our entire commercial mortgage range today and added various improvements in order to widen choice for our customers, offering more products and flexible criteria.
“We are always looking at ways to improve our products and services and many of these changes have been made in response to feedback from our commercial mortgage brokers and customers. Commercial mortgages are a growing area of Aldermore’s business and we are keen to support the growth of this sector by offering a more extensive range.”
Aldermore’s funding partnership with Keystone for its Classic range ended in June following a three-year partnership bringing £200m of lending.