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.
We’re repricing our buy to let mortgage range
Limited edition buy to let rates will be withdrawn from 6pm Monday, 29 April and we’re launching a new buy to let range on Tuesday, 30 April
It’s our commitment to you that we’ll give you at least one full working days notice of any product withdrawal. That’s why we wanted to let you know that we’ve made the decision to increase rates across our buy to let 65% LTV limited edition range and launch a new 75% LTV range from Tuesday.
All our buy to let limited edition rates will be withdrawn from 6pm Monday 29 April. We’ll process pipeline applications as usual and if you’d like to secure one of these products for your client, the latest you can submit a decision in principle (DIP) is 6pm Monday 29 April.
We’ll be launching our new buy to let range from Tuesday 30 April.
From Tuesday 30 April
We’re launching a new range of 75% LTV buy to let products.
We’re launching new 65% LTV limited edition buy to let products.
For new applications only.
You’ll find all our new rates in our buy to let mortgage guide from Tuesday, 30 April.
If you have any questions, contact your relationship manager or call the team on 0333 321 1000.
Changes to our residential lending criteria
We’ve made changes to our residential owner occupied lending criteria to help more of your clients buy the home of their dreams
We’re excited to let you know about the changes we’ve made to our residential owner occupied mortgage criteria.
We’ve listened to your valuable feedback and introduced new level 2 and 3 lending criteria to
help you find the right mortgage for your clients.
Our level 1 and 2 products are available up to 95% LTV and level 3 products
are available up to 80% LTV.
Improvements to our level 1 criteria – up to 95% LTV:
- CCJs are no longer required to be satisfied if none recorded within the last 36 months
- IVA, Trust deed – discharged for 3 years (was 6 years)
New level 2 criteria:
- Up to 95% LTV
- Mortgage or secured loan arrears – 0 in last 18 months
- Defaults & CCJ – 0 recorded in last 18 months
- Unsecured loan arrears maximum status 2 in last 12 months – latest month up to date
- IVA, Trust deed – discharged for 2 years
- Bankruptcy, Sequestration, Debt relief order – discharged for 6 years
New level 3 criteria:
- Up to 80% LTV
- Mortgage or secured loan arrears – 0 in last 6 months
- Defaults & CCJ – 0 recorded in last 6 months
- Unsecured loan arrears maximum status 3 in last 12 months – latest month up to date
- IVA, Trust deed – discharged for 1 years
- Bankruptcy, Sequestration, Debt relief order – discharged for 3 years
Criteria across our level 1, 2 and 3 range
- Combined defaults & CCJs up to £300 ignored
- All communication defaults ignored
- Debt management plans considered when satisfactorily maintained for the last 12 months