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.
Aldermore Managed Rate Change
Aldermore Managed Rate Change – 07 February 2023
Following the 0.50% increase to the Bank of England Base Rate, we’re increasing the Aldermore Managed Rate (AMR)* from 7.98% to 8.48%.
The change in AMR means our discounted variable, term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.50% for:
New and pipeline cases – for new business and product switch
From 07 February 2023, all new illustrations and mortgage offers (origination and product switch) will reflect the new AMR. This will impact affordability in some cases.
From 01 March 2023 all AMR linked variable rate accounts will be updated. We’re writing to all impacted customers to let them know their new interest rate and monthly payments.
*AMR is Aldermore’s standard variable rate for residential and buy to let mortgages.