Aldermore has created two new lending tiers across its standard range of residential mortgages.
The two new tiers (Standard Level 2 and 3 ranges) mean the Bank will now consider customers if they have:
- CCJs or defaults registered over six months
- Bankruptcy or IVA discharged for two years
- Mortgage or secured loan arrears over three months ago
- Forced or voluntary possessions older than three years
The new tiers offers brokers an immediate lending decision and Aldermore says its system will always display the lowest possible rate for the customer. The rates are available up to 80% LTV on Aldermore’s Standard Range.
Charles McDowell (pictured), Aldermore’s commercial director, mortgages, said: “We understand that people’s situations can be complex but we are passionate about supporting the nation’s homeowners. At Aldermore, our human approach to lending enables us to consider each case on an individual basis so we can support those people with small credit issues.
“We have worked closely with our intermediary partners to design a process that makes the journey of using our tiered products as simple and straightforward as possible for both the broker and the borrower.”