The bank is looking to encourage borrowers that may be on standard variable rates. It is offering a two-year fixed rate remortgage product at 2.38%, up to 75% loan to value (LTV). This product has no upfront fees and represents a reduction of 0.10%. The rate moves to 2.68% at a LTV of up to 80%.
Aldermore has also introduced two new purchase-only products at the same rates and LTVs as those for remortgage.
Charles McDowell (pictured), commercial director, mortgages said: “In an environment of consistently low interest rates, it’s tempting for homeowners to relax and go with the flow, when it comes to their mortgage. But if they’re on their lender’s standard variable rate, it’s likely they could get a better deal elsewhere and save money on their monthly payments, or pay off their mortgage quicker. The opportunity to remortgage could also offer customers the chance to free up some cash, giving borrowers, in particular the self-employed, more flexibility.”
