Aldermore has made a number of rate changes to its buy-to-let and residential mortgage products.
These are as follows:
Buy-to-let
New two-year fixed rate of 3.98% to 75% LTV and 4.48% to 80% LTV (0.5% lower than existing product)
- 2.5% completion fee, which can be added to the loan
- Borrowers now have the choice of either a lower rate with % completion fee, or the existing rate with a fixed price fee.
‘Limited Edition’ term variable rate of 3.98% to 65% LTV and 4.28% to 75% LTV
- Rate 0.5% lower (at 65% LTV) and 0.2% lower (at 80% LTV) than existing products
- £1,999 completion fee
Remortgage only products with no valuation, completion or legal feesBuy-to-let
- Three-year fixed & term variable rates reduced to 4.98% to 75% LTV
- New three-year fixed and term variable rates of 5.48% to 80% LTV
Residential
- Three-year fixed rate reduced to 4.48% to 65% LTV, 4.88% to 75% LTV and 5.28% to 80% LTV
A £99 booking fee is payable on application and a £30 electronic transfer fee is payable on the remortgage only products.
Charles Haresnape (pictured), managing director of Residential Mortgages at Aldermore, said: “We’re delighted to be announcing these rate cuts at a time when many brokers are fearful that mortgage rates may soon start to move upwards.
“We will be keeping a careful eye on swap rates and the Limited Edition rates are therefore subject to withdrawal at short notice. We urge brokers to take advantage of these very competitive deals while they are still available.”