"We’re now pleased to introduce these major rate reductions, as well as back customers at 95% LTV where there are limited options available in today’s marketplace."
- Jon Cooper head of mortgages at Aldermore
Aldermore has announced a raft of rate reductions across both its residential and buy-to-let mortgage ranges, effective from tomorrow, Tuesday 16th January.
The lender is cutting rates by 0.50% across its residential and buy-to-let products. The bank is also introducing a range of other enhancements for borrowers such as increased LTVs.
In its residential owner-occupied range, Aldermore is reducing all fixed rates by 0.50% for new borrowers and up to 0.50% for existing customers. Rates now start from 5.04%.
Aldermore is also reintroducing lending up to 95% LTV, with new build maximum LTVs increasing to 90% for houses and 85% for flats. The maximum LTV for remortgages with capital raising for non-property related purposes has also increased to 85%.
In Aldermore's buy-to-let range, all fixed rates are reducing by 0.50% for new borrowers and up to 0.50% for existing customers. Rates now start from 4.29% for individual and company landlords and 4.79% for HMO and multi unit freeholds.
Jon Cooper head of mortgages at Aldermore, said: “We’re still only in January but 2024 has already seen major shifts in the property market. Lenders across the board are doing their utmost to react to a competitive rate environment.
“Aldermore has taken time to assess the market changes thoroughly and analyse how to best serve our borrowers. As a result, we’re now pleased to introduce these major rate reductions, as well as back customers at 95% LTV where there are limited options available in today’s marketplace. We hope that these improvements continue to enable our broker partners to support both landlords and owner occupier customers with their property aspirations.”
