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Aldermore cuts rates and adds deals to high LTV residential range

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  • 01/05/2019
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Aldermore cuts rates and adds deals to high LTV residential range
Aldermore has launched new options for high loan to value (LTV) and remortgage products across its residential mortgage range.

 

The lender is the latest to cut rates for borrowers with smaller deposits as competition continues in the market.

Aldermore has launched rates from 4.18 per cent for two, three and five-year fixed mortgages up to 85 per cent LTV, only for purchases.

It provides a free valuation with no product fee and a maximum loan size of £500,000.

The bank has also cut its rates to 4.88 per cent from 5.08 per cent for two-, three- and five-year fixed options up to 95 per cent LTV.

Within the fee-free remortgage-only products, rates have been cut from 4.28 per cent to 4.18 per cent at 85 per cent and 90 per cent LTV.

For purchases and remortgages with a £999 product fee and maximum loan size of £500,000, rates have been cut to 3.88 per cent from 3.98 per cent for two-, three- and five-year fixes up to 85 per cent LTV.

Aldermore has also reduced early repayment charges on three- and five-year fixed term mortgages.

Damian Thompson, director of mortgages at Aldermore (pictured), said: “Home buyers are more varied and complex than ever before and we want to provide products that fit them, not them that have to fit the product.”

This launch complements the announcement last week of the expansion of Aldermore’s lending criteria across its residential mortgage range.

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