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.
Changes across our residential owner occupied range
Changes to our residential owner occupied loan to income ratios – from Thursday, 30 April
We’re making changes to our loan to income (LTI) ratios across our new business residential owner occupied range to ensure that we are lending appropriately in the current environment.
How does this impact current DIPs?
Decisions in Principle (DIPs) on our current loan to income (LTI) ratios will remain available until 5pm on Wednesday 29 April, and we’ll continue to honour all secured DIPs for 30 days as standard.
We’ll continue to process pipeline applications as normal. Any cases already benefiting from withdrawn LTI limits will proceed as expected, with those limits still honoured.
From Thursday, 30 April our new LTI limits will be:
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 package the case
- Underwriting – only fully packaged cases with all documentation will proceed to pre underwriting
You can find our full packaging requirements here, so you know exactly what documents we’ll need before you submit.
From Thursday, 30 April
We’re relaunching our residential owner occupied products across our new business range with new LTI ratios. You’ll find details in our criteria guide from Thursday, 30 April.
Are your landlord clients prepared for the Renters’ Rights Act?
The Renters’ Rights Act goes live on Friday 1 May and it brings some of the biggest changes landlords have seen in years.
With these changes approaching, now is a good time to review your current arrangements and make sure everything is in place ahead of implementation.
To support you, we have created a practical broker checklist and a specialist blog to help you understand what action to take and how best to prepare for 1 May.
Broker Checklist
We’ve created a checklist designed to help you identify where action may be needed, structure client conversations and highlight potential areas of risk of opportunity.
Five practical ways landlords can prepare for the Renters’ Rights Act
What matters now is how landlords respond. Those who are proactive getting timelines in place, reviewing tenancies and aligning their finances will be best placed to manage the impact. Learn what to do to support your landlord clients.
We’re here to support you as these changes take effect and will continue to share relevant guidance insights and updates. As always, we are committed to working alongside you to help you support your landlord clients with confidence.
If you’d like to talk through any of the changes or discuss how we can help, please do get in touch.