The offering also includes a five-year fix at 5.28 per cent with both low deposit loans offered with a £999 product fee.
The lender has also refreshed its wider owner occupied range and introduced broader products for purchase and remortgage.
The provider’s limited edition products for purchase and remortgage are fee-free with no product and valuation or funds transfer fee, with free legals on remortgages. The rates offered include a two-year fix at 2.48 per cent or a five-year fix at 2.68 per cent up to 75 per cent LTV.
Up to 80 per cent LTV, the lender is offering a two-year fix at 2.78 per cent and a five-year at 2.98 per cent.
The lender has also made rate reductions of 0.10 per cent across its standard level one range.
Aldermore bank lends to 5.5x income for individuals or joint applicants with a total allowable income of at least £50,000 and a maximum term of 40 years. The bank also considers applicants with communications defaults or other defaults registered over three years ago, alongside applicants who’ve taken government grants or bounce back loans.
Jon Cooper, head of mortgage distribution, Aldermore (pictured) said: “It’s important people see they have the opportunity to realise their home ownership dreams, which is why we consider every application on its own merits, and pride ourselves on tackling even the more challenging applications. If there’s a way to make it happen, we’ll find it.”
Paul Shearman, mortgage, protection and GI proposition director, The Openwork Partnership said: “Buying a home is an important step in life but many would-be borrowers may feel it is unobtainable for them right now due to having to adapt their finances during the pandemic. With Aldermore’s expanded range, there will be more opportunity for those borrowers who need an individual approach to lending, whether they are self-employed, have a low deposit, or blips in their credit history.”
Aldermore relaunched back into the 95 per cent LTV market in March with a two-year and a five-year pilot deal priced at the same rates for a limited period. The lender withdrew from the market completely in April 2020.