Aldermore unveils its lowest ever remortgage-only deal

Aldermore unveils its lowest ever remortgage-only deal

Aldermore has launched a limited edition residential remortgage-only range.

The lender has introduced its lowest ever remortgage-only product, a two-year fixed rate mortgage available up to 75% LTV at 2.48%.

The mortgage range has no upfront fees, although customers will have to pay a £30 funds transfer fee upon completion.

Product details:

  • 2 year fixed rate up to 75% LTV 2.48%
  • 2 year fixed rate up to 80% LTV 2.78%
  • 3 year fixed rate up to 75% LTV 2.58%
  • 3 year fixed rate up to 80% LTV 2.88%

Aldermore has also made some changes to its high LTV rates.

Charles McDowell, commercial director, mortgages, at Aldermore, said: “Our new remortgage product offering, in conjunction with our manual approach to underwriting, is ideal for those customers who are currently ‘trapped’ on their Standard Variable Rate (SVR).

“As people’s circumstances change, for example if they have become self-employed or have split from a partner, their affordability may be impacted which means they may not be able to switch to another deal with their current lender. There are millions of borrowers across the U.K. on SVR who could be getting better deals. Now is the time for advisors to get in front of those borrowers.

“These borrowers often do not fit the ‘norm’ for many lenders and it can be a real challenge for them to receive the financial support they need. Our human approach to lending, and our specialist advisers consider each case on an individual basis which gives us more of an opportunity to support our customers and help them save money, whatever their circumstances.”