Aldermore, the specialist finance lender, has enhanced its residential owner occupied mortgage range with reduced rates and a reintroduction of remortgage products. These offerings are to support borrowers with less than perfect credit and also those who have complex needs.
There are four new remortgage deals, all of which have no product fee and include free standard legal and valuation fees. Two and five-year fixed rates are available at 75% LTV from 3.48% and 3.78% respectively. At 80% LTV, the two-year fixed rate is 3.68% and 3.98% for the five-year fixed rate.
Purchase and remortgage rates with a fee of £999 start at 3.18% for a two-year fix at 75% LTV, and 3.48% at 80% LTV.
Jon Cooper, head of mortgage distribution, Aldermore said: “The pandemic has accelerated the increasingly broad set of financial cricumstances that borrowers have, so we want to be inclusive and responsive to this long-term trend.
“It is important to give opportunity to the widening number of people that may have complex income streams or credit issues in the past so that they can find a product that suits their individual circumstances.
“At Aldermore, we continually review our mortgage propositon and the rates we offer to ensure we best serve our customers and aspiring homeowners.
“With the reintroduction of these remortgage products, we’re delighted to be providing a greater amount of choice to homeowners looking to secure a better deal or reduce monthly payments to release funds to be put towards other large expenses on the horizon such as home renovations.”
Original article featured here…
Aldermore recently published research showing that half of all first time buyers (FTBs) who began the process of buying a property had the purchase fall through.