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Aldermore lowers rates on Help to Buy 2

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  • 08/09/2016
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Aldermore lowers rates on Help to Buy 2
Specialist lender Aldermore has replaced two-year fixed rates within its existing Help to Buy: mortgage guarantee offering with a standard non-tiered deal, giving borrowers a rate cut of over 1%.

The 4.98% two-year fixed rate is available up to 95% loan-to-value (LTV) and comes with a fee of £999. Customers can take out a minimum loan of £25,000 up to a maximum of £400,000 on a capital repayment basis.

The Help to Buy: mortgage guarantee scheme is set to close in December, leaving the Help to Buy ISA and Help to Buy: equity loan as the government’s remaining flagship initiatives for first-time buyers.

Charles Haresnape, Aldermore’s group managing director, mortgages, said: “Our new two-year rate is not tiered, with borrowers offered the same rate whether applying for a loan of 90% or 95% of the value of the property.

“Almost 80,000 mortgages have been completed with the support of the mortgage guarantee scheme since its launch in 2013, and it has had an extremely positive impact across the UK. Four out of five of those mortgage completions were for first-time buyers, and Aldermore is proud to support those individuals looking to buy a home.”

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