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 increased by 0.25% to 5.23%
Following the 0.25% increase to the Bank of England Base Rate to 0.75%, we’re increasing the Aldermore Managed Rate (AMR)* from 4.98% to 5.23%.
The change to AMR means our term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.25% for:
New business, pipeline customers and product switches
From 22 March 2022 all new ESIS and mortgage offers (origination and product switch) will reflect the new AMR. This may impact affordability in some cases.
Existing customers
From 1 April, all AMR linked accounts will be updated. We’ll be 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
Please note: Our mortgage guides will be updated on 22 March 2022. You’ll find them here
New 5 year fixed BTL rate and limited edition withdrawal
New 5 year fixed buy to let mortgage rate
from Friday 25 March, 2022
We’re launching a new 5 year fixed buy to let mortgage product, for Individual landlords looking to purchase or remortgage.
3.18% 5 year fixed up to 75% LTV with a 1.50% fee
Available for landlords with single residential investment properties. Free legal fees, free valuation and no funds transfer fee on remortgage.
This rate replaces our limited edition 5 year fixed at 2.68% up to 75% LTV which will be withdrawn on Thursday 24 March at 6pm.
Limited edition applications in pipeline
We’ll process any pipeline applications as usual. If you want to secure our limited edition product, the latest you can submit a decision in principle (DIP) is 6pm, Thursday 24 March, 2022.
DIPs will remain valid for 30 days and this will need to be submitted to full application within this time. If you need to resubmit a DIP, you’ll need to select a new product from the range that’s available at the time of submission.