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 mortgage rates and policy changes – from 23 May
Our new buy to let and owner occupier mortgage range
and changes to our buy to let policy.
We’ve made changes to our mortgage range, bringing back more products for your
first time buyers, home movers, self employed, landlords and those with less than perfect credit.
Here’s a summary of the products available and you’ll find all rates on our website.
► Buy to let for individual landlords with single residential investment properties
2 and 5 year fixed rates up to 80% LTV with 1.50% product fee
► Buy to let for company landlords with single residential investment properties
2 and 5 year fixed rates up to 80% LTV
1.50% product fee, £1,999 product fee and zero fee options
► Buy to let for multi property individuals and
company landlords with single residential investment properties
2 and 5 year fixed rates up to 75% LTV
1.50% product fee and zero fee options
► Buy to let for HMO and multi unit freeholds
2 and 5 year fixed rates up to 75% LTV
1.50% product fee, £1,999 product fee and zero fee options
► Buy to let multi property for HMO and multi unit freeholds
2 and 5 year fixed rates up to 75% LTV
1.50% product fee and zero fee options
We’ve simplified our reversion rates for buy to let mortgages.
► Residential owner occupied standard level 1 up to 80% LTV
2 and 5 year fixed rates – fee free or £999 fee range
► Residential owner occupied level 2 and 3 up to 75% LTV
2 and 5 year fixed rates – fee free or £999 fee range
► Residential owner occupied high LTV up to 95% LTV
2 and 5 year fixed rates – fee free or £999 fee range
For full details on all the new rates available, visit our website
Changes to our buy to let stress rate.
We’ve amended the stress rate on our 5 year fixed rate products:
Affordability will now be based on higher of (i) pay rate or (ii) 4.0%
Changes to our interest cover ratio (ICR) for HMO
Individual higher or additional rate tax payers:
Minimum ICR is 175%, including surplus income is 150%
Company or individual basic rate tax payers:
Minimum ICR 140%, including surplus income is 125%