The lender is now offering a 95% LTV 2-year fix available at 5.08%, and also a 95% LTV 5-year fix at 5.28%. These are for purchase only and both include a fee of £999.
The products are on offer now, for an initially limited time period and could become a permanent fixture in the future.
The reintroduced range is suitable for first-time buyers and those looking to move home, for both new build and existing properties.
In addition, rate reductions have been made to four products. The 90% LTV 2-year fix is now available at 4.78%, down from 5.28%, whilst the 90% LTV 5-year fix has fallen to 4.98% from 5.38%.
The 85% LTV 2-year fix is now offered at 4.08%, previously 4.38%, and the 85% LTV 5-year fix is at 4.28%, reduced from 4.58%. These are all for purchase or remortgage and include a fee of £999.
Jon Cooper, head of mortgage distribution at Aldermore, said: “We’re delighted to be one of the first lenders to reintroduce our 95% LTV proposition to meet the strong demand from first time buyers right now.
“Lockdown has given many people the chance to focus on their long term goals and, with three fifths (63%) of first-time buyers saying they are now more motivated to buy, we want to provide greater choice and opportunity to help new buyers realise their dreams of becoming home owners.
“While initially introduced for a limited time period, we look forward to permanently introducing our 95% LTV proposition in the near future.
“Aldermore has been a big supporter of the Help to Buy scheme since 2013 and continue to support the equity loan and ISA products.
“But as the market has evolved rapidly the past few years, we believe we can serve low-deposit first time buyers better going forward, in particular those that are self-employed or that have had credit issues in their past, with our own products and services independent of the scheme.”
Original article featured here…
Aldermore enhanced its commercial mortgages teams with two new hires at the end of last year; Joanna Winterton was appointed as Head of Commercial Mortgages South and Graham Ritchie as Head of Commercial Mortgages North.