The changes come into effect immediately and are available with no legal or valuation costs. It applies to residential owner occupied and buy-to-let (BTL) customers with single residential units.
For residential owner occupied, two-year fixed rates have fallen by 0.2 per cent across 70, 75 and 80 per cent loan to value (LTV) and now start from 2.5 per cent.
Five-year fixed rates in the range have been cut from 0.5 per cent across all products between 60 and 90 per cent LTV and also start from 2.5 per cent.
Two-year fixed rate BTL products for single residential units for individual landlords have decreased by 0.25 per cent and start from 2.7 per cent across 60, 65, 70 and 75 per cent LTVs.
Five-year fixed rates in the same range have fallen by 0.65 per cent, and also start from 2.7 per cent, for all products between 60 and 85 per cent LTV.
The lender has also reduced BTL products for single residential units for company landlords by as much as 0.6 per cent.
Two-year fixed rates in this range have been cut by 0.2 per cent across 70 and 75 per cent LTV. The rates start from 2.95 per cent.
All five-year fixed rates in this range at 85 per cent LTV have been reduced by 0.6 per cent, with the lowest rate now 2.95 per cent.
Jon Cooper, head of mortgage distribution at Aldermore, said: “I’m delighted to introduce our new product switch range which offers some of our cheapest rates yet and, alongside our streamlined broker switching portal, we’re providing benefits to both brokers and customers alike.
“2022 is a year we want to show our ambition to seek growth and innovation in what services we can provide for our customers and broker partners. This is a next step in that process as we continue to deliver the best products we can and ensure our service is as straight-forward and seamless as possible.”
Platform increases rates and temporarily withdraws products
Platform has increased the rates for select fee-free and fee-paying products in new business mainstream range by up to 0.58 per cent.
This includes fee-free two-year fixed rate products between 60 and 90 per cent LTV which have risen by 0.58 per cent, and two-year fixed rates between the same LTVs with a £999 fee.
Fee-free five-year fixed rates between 60 and 90 per cent LTV have risen by 0.37 per cent, along with five-year fixed rates between the same LTVs with a £1,499 fee.
In its new business mainstream range, the lender has also temporarily withdrawn its three-year fixed rate products, along with two, three and five-year fixed rates at 95 per cent LTV and five-year fixed rates products with £1,999 fee.
It has also temporarily withdrawn two-year fixed rates between 60 and 90 per cent LTV with £1,499 fee, five-year fixed rates with £999 fee between the same LTVs.
The lender has also increased its product switch mainstream two-year fixed rate with no fee by 0.58 per cent.
