For buy-to-let products, reductions are up to one per cent and for owner-occupied, they are up to 0.84 per cent.
In its buy-to-let range, individual landlords with single residential investment properties can access a two-year discounted rate up to 75 per cent loan to value (LTV) at 5.98 per cent. It comes with a £1,999 fee.
There is also a two-year fixed rate and five-year fixed rate up to the same LTV private at 6.29 per cent for either option with a 1.5 per cent fee.
The pricing above is also the same for company landlords with single investment properties.
The two-year discounted rate with £1,999 fee up to 75 per cent LTV for houses in multiple occupation and multi-unit freeholds is 6.48 per cent.
The two and five-year fixed rate options with 1.5 per cent fee up to 75 per cent LTV are 6.59 per cent, whilst the fee-free five-year fixed deal is 6.89 per cent.
For multi property individuals and company landlords with single residential investment properties, the two-year discounted deal is 5.88 per cent and fixed rate deals begin from 6.19 per cent.
Multi property individuals and company landlords with HMO and multi-unit freeholds’ fixed rate pricing starts from 6.49 per cent.
Aldermore residential
On the residential side, standard level one £999 fee range discounted products start at 5.23 per cent and fixed rate pricing begins from 6.21 per cent. On the no-fee side, fixed rate pricing starts from 6.31 per cent.
In its high LTV £999 fee range, discounted pricing is from 6.23 per cent, and fixed rate pricing is from 7.04 per cent. In its no-fee equivalent range, fixed rates start from 7.29 per cent.
The lender’s standard level two range fixed rates with £999 fee begin for 6.99 per cent and no-fee fixed rate remortgage products in this range start from 7.11 per cent.
Jon Cooper, head of mortgages at Aldermore, comments: “We’re delighted to announce improvements across our mortgage range to better support prospective and existing homeowners and landlords, especially when so many people are facing stark challenges compared to this time last year.
“Aldermore is always here to help those overlooked by the bigger high street banks, getting finance where it’s needed and helping more people to go for it in life and in business.”
Gen H switches from SVR to base rate tracker
First-time buyer specialist Gen H has swapped from a Standard Variable Rate (SVR) to a base rate tracker.
The SVR was 7.5 per cent and the base rate tracker is the base rate plus three per cent. This brings the latter to 6.5 per cent.
The lender said the decision was take to “provide greater transparency” to customers and the change applies to all new business.
It continued that due to the lower reversionary rate, it had revisited its mortgage rate stress assumption to help bolster affordability.
The lender has also cut two-year fixed rates, with two-year fixed rates with £999 fee between 60 and 80 per cent LTV starting from 4.97 per cent, whilst fee-free products begin from 5.19 per cent.
Will Rice, Gen H CEO said, “We’re always looking for ways to empower our customers with the knowledge they need to make the right financial decisions for themselves.
“Replacing our SVR with a tracker reversionary rate will help customers better understand the cost of their mortgage and how market trends could impact them. This is another way we’re setting a new standard for transparency in the mortgage market.”
Pete Dockar, Gen H’s commercial director, added: “As the mortgage industry prepares for the higher standards of the FCA’s Consumer Duty, we believe the opacity of traditional SVRs will be increasingly challenged.
“Tracker rates represent a readily understood, fair and unambiguous alternative to SVRs that is especially important in the current economic climate.”
