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 making changes across our new business and product switch range
We’re withdrawing our 2 year discounted residential buy to let product switch rates – last product switch by 5pm Wednesday 22nd April
We’re also making changes across our buy to let mortgage and product switch range – from Thursday, 23rd 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 reprice our 2 year discounted residential buy to let product switch rates.
Here’s a breakdown of the changes that are coming:
Buy to let – new business
Individuals and companies with single residential investment properties & Multi property residential investment property portfolios
2 and 5 year fixed rates reduced by 0.20%
Additional rate and fee options re-introduced
Product switch rates
BTL individual and company landlords with single residential investment properties
2 year fixed rates reduced by 0.20%
5 year fixed rates re-introduced
Variable rates increased by 0.25% for residential buy to let
Product Switch
If you’d like to secure a withdrawn product switch rate for your client, the latest you can do this through our telephony is 5pm Wednesday, 22nd April.
Product switch offers are valid for 30 days, or up until 15 working days before the product switch date (to allow direct debit changes), whichever is soonest
30 day DIP guarantee
Don’t forget our Decisions in Principle (DIPs) are guaranteed for 30 days, which means:
- Rate security – if the DIP is converted to a full application within 30 days of submission
- 10 days to package – once submitted, you have 10 working days to fully packaged the case
- Underwriting – only fully packaged cases with all documentation will proceed to pre underwriting
From Thursday, 23rd April
We’re re-launching our new range of buy to let products across our new business and product switch range.
ou’ll find all our new rates in our mortgage guides from Thursday, 23rd April.