Aldermore announced some product changes. See below for more information. For information on their current products and criteria call our team or click here. REMEMBER, you can access the Aldermore range using our Direct to Lender mortgage club so do contact us for further information. For any Documents Click here. Calculators Click Here.
Changes to our lending criteria
Here’s a round up of our latest criteria changes
Ex-public sector flats –
- Change in maximum number of storeys – We’ve adjusted our criteria for ex-public sector/local authority blocks. The maximum height is now 10 storeys for properties in London and the South East, and 6 storeys for the rest of the UK. This applies to both residential owner occupied and buy to let cases.
- Change in LTV limit – We’ve increased the maximum LTV from 75% to 85% for residential owner occupied cases involving ex-public sector flats
Dual demand simplified – We’ve reviewed our criteria and ask that properties must have suitable, long term demand. Owner occupier demand for rental properties will no longer be required
Lower minimum property value – The minimum property value for single residential units has been reduced from £60,000 to £50,000
New Limited Edition – buy to let products
New limited edition buy to let products
– from Thursday, 5 December 2024
We’re introducing new limited edition buy to let mortgage rates,
helping you to find the right mortgage for your clients.
We aim to give brokers as much notice as possible when we make changes to our product range, but due to the ongoing volatility in the market we want to make you aware that these rates may be withdrawn at short notice
Limited edition – buy to let
Individual and company landlords with single residential investment properties
► 5 year fixed with zero fee, 5.74% to 75% LTV
► 5 year fixed with 1.50% fee, 5.44% to 75% LTV
► 5 year fixed with 5.00% fee, 4.74% to 75% LTV
Multi property product for individual and company landlords with residential investment properties
► 5 year fixed with zero fee, 5.69% to 75% LTV
► 5 year fixed with 1.50% fee, 5.39% to 75% LTV
► 5 year fixed with 5.00% fee, 4.69% to 75% LTV
► 5 year fixed with £1,999 fee, 5.64% to 75% LTV
All the above rates come with free valuation (purchase, remortgage and incorporation) and assisted legals for remortgages.
You’ll find more details on these rates in our buy to let mortgage guide from Thursday, 5 December.