Aldermore has revised its commercial investment and commercial owner-occupied mortgage range.
There is now a choice of variable and fixed rate mortgages up to 75% LTV available for loans up to £1m.
The lender has also introduced a new 70% LTV tier, which means it will offer products across three LTV tiers: up to 60%, up to 70% and up to 75%.
The bank has made the following changes:
- All variable rates re-priced, starting from 4.59%
- New three-year fixed rates, starting from 4.69% and now just 0.10% above variable rates
- New five-year fixed rates, starting from 4.79% and now just 0.20% above variable rates
- New 70% LTV tier added
- Commitment fee reduced to 0.25% from 0.50% – no change to 1.75% arrangement fee
Products include:
| Commercial Investment | Commercial Owner Occupied | |
| Variable term | · 4.99% for 60% LTV · 5.34% for 70% LTV · 5.44% for 75% LTV | · 4.59% for 60% LTV · 4.94% for 70% LTV · 5.04% for 75% LTV |
| Three-year fixed rates | · 5.09% for 60% LTV · 5.44% for 70% LTV · 5.54% for 75% LTV | · 4.69% for 60% LTV · 5.04% for 70% LTV · 5.14% for 75% LTV |
| Five-year fixed rates | · 5.19% for 60% LTV · 5.54% for 70% LTV · 5.64% for 75% LTV | · 4.79% for 60% LTV · 5.14% for 70% LTV · 5.24% for 75% LTV |
Charles McDowell, commercial director of mortgages at Aldermore, said: “Our latest commercial mortgage refresh provides more choice for businesses, with products available across three LTV tiers. We are pleased to be reducing rates across a range of our commercial investment and commercial owner-occupied mortgages, encouraging businesses to invest in their future.
“With such competitive fixed rates available, our new products offer commercial borrowers the option to choose the security of fixed payments for three or five years at limited additional cost. In addition, Aldermore’s human approach, with each application assessed by an individual underwriter, gives businesses the flexibility to shape a deal in the best possible way for their future, and our new products reaffirm our commitment to supporting SMEs.”
