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.
Reduced Mortgage Rates + Free Valuations with Aldermore
Reduced mortgage rates and free valuations on our residential and buy to let mortgages – from Monday, 17 April 2023
We’ve reduced rates across our residential owner occupied, buy to let and product switch mortgage range.
And we now offer a free valuation on all residential owner occupied mortgages and buy to let for single residential investment properties.
Buy to let mortgage range
Buy to let for individual landlords with single residential investment properties + free valuation
► 5 year fixed with 1.50% fee, 5.44% to 75% LTV
NEW 5 year fixed zero fee, 5.74% to 75% LTV
► 5 year fixed with 1.50% fee for properties with EPC rating of A, B or C 5.34% to 75% LTV
Buy to let for company landlords with single residential investment properties + free valuation
► 5 year fixed with 1.50% fee, 5.44% to 75% LTV
► 5 year fixed with zero fee, 5.74% to 75% LTV
► 5 year fixed with 1.50% fee for properties with EPC rating of A, B or C, 5.34% to 75% LTV
Buy to let multi property product for individuals and company landlords with residential investment properties + free valuation
► 5 year fixed with 1.50% fee, 5.34% to 75% LTV
► 5 year fixed with zero fee, 5.64% to 75% LTV
Residential owner occupied mortgage range
Residential owner occupied high LTV with £999 fee + free valuation
► 2 year fixed 6.09% to 85% LTV
► 5 year fixed 6.09% to 85% LTV
► 2 year fixed 6.39% to 90% LTV
► 5 year fixed 6.39% to 90% LTV
Residential owner occupied high LTV with zero fee + free valuation
► 2 year fixed 6.34% to 85% LTV
► 5 year fixed 6.19% to 85% LTV
► 2 year fixed 6.64% to 90% LTV
► 5 year fixed 6.49% to 90% LTV
Product switch mortgage range
Residential owner-occupied
► 2 year discounted rates from 5.23% to 6.48% across LTV bands from 60% to 90%
► 2 year fixed rates from 5.24%
► 5 year fixed rates from 5.39%
Buy to let for individuals with single residential properties
(Only available for customers that applied using our residential mortgage portal)
► 2 year discounted rates from 5.23% across LTV bands from 60% to 85%
► 2 year fixed rates from 5.99%
► 5 year fixed rates from 5.74%
Our packaging standards
Our DIPs are valid for 10 days securing the product and rate.
Our BDM team will review each case and only send for underwriter review once all items have been supplied.
Update to our valuation process
Free valuations on purchase and remortgage applications
On Monday, 17 April we announced that we’re now offering free valuations on both purchase and remortgage applications for single residential investment properties.
We understand that the homebuying process is costly and fees can quickly accumulate, so these changes will go some way to help support your clients.
We’ve also made some system changes aimed at improving our app to offer time
Some of our residential owner occupied and buy to let applications will now be valued without needing a physical inspection of the property. If the property can be valued remotely, this will help to reduce the time it takes to convert your DIP to offer.
For more information, speak to your relationship manager.
Changes to our mortgage range from 17 April 2023
We reduced rates across our residential, buy to let and product switch range.
You’ll find all the rates on our website.
Changes to our affordability calculators
We enhanced our affordability calculators last month to help increase borrowing capacity across residential owner occupier and HMO applications.
Our minimum ICR for HMOs for individual higher rate taxpayers was reduced to 160% from 175% (reduced to 135% from 150% when using surplus personal income)