Aldermore announced that it has revamped its mortgages with a reduction in rates on many of its products, including a replacement for the Help to Buy: Mortgage Guarantee scheme for borrowers with a low deposit.
The lender’s new high LTV range up to 95% LTV includes a two-year fix at 4.98%, a three-year fix, also at 4.98% and a five year fix at 5.08%.
Aldermore has reduced its early repayment charges as well as introducing a new overpayment allowance of up to 10% of the outstanding balance every year.
Fee-free deals from Leeds
Leeds Building Society is adding a new range of fee-free remortgage deals from Friday 6 January.
- A two-year fixed rate mortgage at 1.55% available up to 65% LTV
- A two-year fixed rate mortgage at 1.60% available up to 75%LTV
- A five-year fixed rate mortgage at 2.19% available up to 75% LTV
The remortgage deals all come with a free valuation and fees assisted legal services. There is no product fee.
“Demand for remortgages remained strong during 2016 and continued to grow as a proportion of the mortgage market throughout last year,” said Jaedon Green, Leeds Building Society’s director of product and distribution.
“We expect that trend will continue as homeowners look to take advantage of the historic low interest rate. These latest remortgage-only deals we’ve launched have no fees, which is an added incentive to switch to a better deal.”
Halifax offers £500 cashback
Halifax is offering £500 cashback to first-time buyers, homemovers, buy-to-let borrowers and customers remortgaging from their current lender on qualifying mortgages.
As well as extra cashback, the lender is also promising eligible borrowers will also have the support of a dedicated mortgage adviser to make the process as simple and hassle-free as possible.
Chris Gowland, mortgages director at the lender, said: “Buying a property can be an expensive time. People can often underestimate the extra things they need when they get into their new homes. A bit of extra cash can help ease the financial burden during what’s often a stressful time. Homemovers and those remortgaging can also benefit from a New Year boost to bank balances through the £500 cashback.”