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.
New residential owner occupied, buy to let and product switch mortgage rates – from Tuesday, 22 August 2023
We’ve repriced our mortgage range, introducing new buy to let, residential owner occupied and product switch rates.
We’ve also made changes to our conveyancing process for specialist buy to let applications.You can find more information about this on our website.
Buy to let
Buy to let for individual and company landlords with single residential investment properties
► 2 year fixed with 1.50% fee, 6.59% to 75% LTV► 5 year fixed with 1.50% fee, 6.59% to 75% LTV► 5 year fixed with 1.50% fee for properties with EPC rating of A, B or C, 6.49% to 75% LTV► 5 year fixed with zero fee, 6.89% to 75% LTV► 5 year fixed with 3.00% fee, 6.29% to 75% LTV► 5 year fixed limited edition with 5.00% fee, 5.69% to 75% LTV
Buy to let for individuals, companies, HMO and multi unit freehold (up to 6 bedrooms / 6 units)
► 2 year fixed with 1.50% fee, 7.09% to 75% LTV► 5 year fixed with 1.50% fee, 7.09% to 75% LTV► 5 year fixed with 1.50% fee for properties with EPC rating of A, B or C, 6.99% to 75% LTV► 5 year fixed with zero fee, 7.39% to 75% LTV► 5 year fixed with 3.00% fee, 6.79% to 75% LTV
Buy to let multi property product for Individual and company landlords with residential investment properties
► 2 year fixed with 1.50% fee, 6.49% to 75% LTV► 5 year fixed with 1.50% fee, 6.49% to 75% LTV► 5 year fixed with zero fee, 6.79% to 75% LTV► 5 year fixed with 3.00% fee, 6.19% to 75% LTV► 5 year fixed limited edition with 5.00% fee, 5.59% to 75% LTV
Buy to let multi property for individuals, companies, HMO and multi unit freehold (up to 6 bedrooms / 6 units)
► 2 year fixed with 1.50% fee, 6.99% to 75% LTV► 5 year fixed with 1.50% fee, 6.99% to 75% LTV► 5 year fixed with zero fee, 7.29% to 75% LTV► 5 year fixed with 3.00% fee, 6.69% to 75% LTV
Buy to let large loan HMOs and multi unit freehold (7 – 12 bedrooms / 7 – 20 units)
► 2 year fixed with 1.50% fee, 7.19% to 75% LTV► 5 year fixed with 1.50% fee, 7.19% to 75% LTV► 5 year fixed with zero fee, 7.49% to 75% LTV► 5 year fixed with 3.00% fee, 6.89% to 75% LTV
Residential owner occupied
Residential owner occupied standard level 1*
► 2 year discount with £999 fee, 6.48% to 80% LTV (AMR^ less 3.25%)► 2 year fixed with £999 fee, 6.74% to 75% LTV► 5 year fixed with £999 fee, 6.54% to 75% LTV► 2 year fixed with zero fee, 6.99% to 75% LTV► 5 year fixed with zero fee, 6.64% to 75% LTV► 2 year fixed with £999 fee, 7.24% to 80% LTV► 5 year fixed with £999 fee, 6.89% to 80% LTV► 2 year fixed with zero fee, 7.49% to 80% LTV► 5 year fixed with zero fee, 6.99% to 80% LTV
*The standard level 1 fee free products at 75% & 80% LTV now come with free legal incentive or £300 cashback for remortgages (cashback paid upon completion)
Residential owner occupied high LTV
► 2 year discount with £999 fee, 7.23% to 90% LTV (AMR^ less 2.50%)► 2 year fixed with £999 fee, 7.34% to 85% LTV► 5 year fixed with £999 fee, 6.99% to 85% LTV► 2 year fixed with zero fee, 7.59% to 85% LTV► 5 year fixed with zero fee, 7.09% to 85% LTV► 2 year fixed with £999 fee, 7.64% to 90% LTV► 5 year fixed with £999 fee, 7.29% to 90% LTV► 2 year fixed with zero fee, 7.89% to 90% LTV► 5 year fixed with zero fee, 7.39% to 90% LTV
Residential owner occupied standard level 2
► 2 year fixed with £999 fee, 7.59% to 75% LTV► 5 year fixed with £999 fee, 7.24% to 75% LTV► 2 year fixed with zero fee, 7.84% to 75% LTV► 5 year fixed with zero fee, 7.34% to 75% LTV► 2 year fixed with £999 fee, 7.89% to 80% LTV► 5 year fixed with £999 fee, 7.54% to 80% LTV► 2 year fixed with zero fee, 8,14% to 80% LTV► 5 year fixed with zero fee, 7.64% to 80% LTV
^The AMR is a variable rate set by Aldermore.
Product Switch
Residential Owner Occupied
Standard
► 2 year discount 6.48% to 80% LTV (AMR^ less 3.25%)► 2 year fixed 6.74% to 75% LTV► 2 year fixed 7.24% to 80% LTV► 5 year fixed 6.64% to 75% LTV► 5 year fixed 6.99% to 80% LTV
Product switch residential owner occupied high LTV
► 2 year discount 7.23% to 90% LTV (AMR^ less 2.50%)► 2 year discount 7.73% to 95% LTV (AMR^ less 2.00%)► 2 year fixed 7.34% to 85% LTV► 2 year fixed 7.64% to 95% LTV► 2 year fixed 6.99% to 85% LTV► 2 year fixed 7.29% to 95% LTV
Product switch residential owner occupied Help to Buy: equity loan
► 2 year discount 6.98% to 75% LTV (AMR^ less 2.75%)► 2 year fixed 7.29% to 75% LTV► 5 year fixed 7.19% to 75% LTV
Buy to Let
Product switch buy to let for Individual and company landlords with single residential investment properties
► 2 year fixed 7.09% to 75% LTV► 2 year fixed 7.34% to 85% LTV► 5 year fixed 6.69% to 75% LTV► 5 year fixed 6.94% to 85% LTV
Product switch Buy to let for HMOs and multi unit freehold (up to 6 bedrooms / 6 units)
► 2 year fixed 7.59% to 80% LTV► 5 year fixed 7.19% to 80% LTV
^The AMR is a variable rate set by Aldermore.
Changes to our conveyancing process for specialist buy to let
We’ve made a change to our conveyancing process. Landlords can now appoint their own conveyancer to act for specialist buy to let purchase applications, subject to meeting the below criteria from 21 August 2023.
We’ve listened to feedback from our trusted broker partners and made this change to help create a better experience when placing specialist buy to let cases with us.
This replaces the current process of obtaining a quotation from a select group of firms for this type of product.
Our specialist buy to let conveyancing criteria
- Conveyancers must be registered with us via Lender Exchange
- The firm must have a minimum of two approved Solicitors Regulation Authority (SRA) managers or two Council for Licensed Conveyancers (CLC) authorised managers. You can check these at lawsociety.org.uk, lawscot.org.uk or clc-uk.org.uk
- They must have Conveyancing Quality Scheme (CQS) accreditation (this is applicable to Solicitors only)
- A minimum Professional Indemnity (PI) insurance cover of £2 million. For applications above £2 million, the conveyancer must at all times retain professional indemnity insurance cover which is adequate and appropriate for the practice, considering in particular the nature and value of the work they are undertaking
What do I need to know?
- We can add a new firm to the panel when requested, subject to meeting the above criteria
- Firms will act on a dual representation basis – acting for the borrower and the bank
- Firms will be sent offer documentation as standard but borrowers can instruct their firm beforehand
- All fees are negotiated directly between the borrower and the acting solicitor
- Assisted legal fees on remortgages will remain under the current process through our managed panel firms
Our buy to let conveyancing guide