Aldermore has reintroduced its 95% loan to value (LTV) mortgage offering.
The 95% LTV products will be available for a limited period, with the view to reintroduce it permanently in the near future.
The following 95% LTV products being launched are:
- 2 year fixed – 5.08% (£999 fee purchase only)
- 5 year fixed – 5.28% (£999 fee purchase only)
Aldermore has also reduced the rates of its 85% and 90% LTV products.
The following rates are:
85% LTV £999 fee, purchase and remortgage:
- 2 year fixed – 4.08% (previously 4.38%)
- 5 year fixed – 4.28% (previously 4.58%)
90% LTV £999 fee, purchase and remortgage
- 2 year fixed – 4.78% (previously 5.28%)
- 5 year fixed – 4.98% (previously 5.38%)
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.”