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.
Latest news from Aldermore’s Nicola Goldie
Welcome to 2024 and my January update. I want to wish you a very happy New Year and hope that you enjoyed the festive break.
2023 was a year of highs, lows and changes…
- 311,789 products were launched, amended or withdrawn – up 5.6% year on year (Moneyfacts)
- Rates peaked at a high of 6.86% for a 2 year fixed and 6.37% for a 5 year fixed (Moneyfacts)
- UK house prices ended 2023 1.8% lower than the same point in 2022 (Nationwide)
- Inflation made its way back down to 3.9% in November, from it’s 44 year high in October 2022 at 11.1%
It’s a year that many will be pleased confine to history books, so let’s look forward optimistically to 2024.
What will 2024 bring?
In the market
- With inflation figures falling there is talk of interest rates potentially coming down earlier in March, than the previous forecasts of the end of the year
- Mortgage and swap rates have been stabilising, which will hopefully have a positive impact for customers and stimulate the purchase market again
- An estimated 1.5 million households will come to the end of their fixed terms in 2024 (FCA) and whilst mortgage rates are falling, there will still be a significant increase to the majority of these
- With the potential of an election, we may see housing scheme government stimulation to replace help to buy, or suggestions for a reform on stamp duty
- The renters reform bill may come into force albeit without the section on non fault evictions
At Aldermore
It was a busy 2023 for us at Aldermore with lot’s of exciting changes, here’s a round up:
- Invested in our service – streamlining our processes to deliver a more efficient broker service
- Invested in our people – structured our team to give the best possible support for our distribution partners
- Invested in our brokers – with our broker pledge
- Invested in our technology – launching a new website designed to make it easier to use
- Invested in our products – allowing us to better support your customers
- Invested in our approach to financial wellbeing, climate impact, economic transformation and financial inclusion – read our second Report to Society here
We’re excited and optimistic for the year ahead and are looking forward to working with you all. We’re busy planning what’s next and would love it if you’d complete the survey at the bottom of this email, regarding our residential mortgage proposition for customers with adverse credit.
As always, I’m keen to hear from you, so please do drop me a note back with your thoughts on 2024.
For those of you that know me well, will know I like my music, so I thought I would try and sum up my feelings for 2024 through a song and “Here Comes The Sun” by the Beatles came to mind. As both metaphorically and literally we are surely due some sun, it makes me feel grateful and matches my optimism for the year ahead!
Thanks,Nicola