View more on these topics

Aldermore cuts Help to Buy rates by more than 1%


Aldermore is reducing rates on its Help to Buy: mortgage guarantee offering.

The lender is replacing its existing two-year fixed rate products with a standard, non-tiered offer.

Available immediately, the new product offers:

  • 4.98 per cent two-year fixed rate up to 95 per cent LTV with a fee of £999
  • The previous rates were 5.99 per cent at 90 per cent LTV and 6.09 per cent at 95 per cent
  • Loan size – from £25,000 to £400,000 on a capital repayment basis

Group managing director for mortgages Charles Haresnape says: “We are delighted today to be improving our Help to Buy: Mortgage Guarantee product to help borrowers with smaller deposits.

“Our new two-year rate is not tiered, with borrowers offered the same rate whether applying for a loan of 90 per cent or 95 per cent of the value of the property.

“Almost 80,000 mortgages have been completed with the support of the mortgage guarantee scheme since its launch in 2013, and it has had an extremely positive impact across the UK. Four out of five of those mortgage completions were for first-time buyers, and Aldermore is proud to support those individuals looking to buy a home.

He adds: “With rising house prices, many first-time buyers are struggling to raise the initial deposit they need to get on the housing ladder.

“With the Help to Buy: mortgage guarantee scheme set to close in December 2016, Aldermore is pleased to help as many of those looking to take advantage of the programme as possible, before the scheme ends.”


Setting the pace: Which lenders top the league table for brokers?

Halifax has knocked RBS off the podium in the race to win brokers’ hearts, Mortgage Strategy’s latest lender survey shows The pressure is on mortgage lenders to stay fighting fit in the race for customers. The enduringly low interest rate may have played into their hands over product pricing but uncertainty about the economy and […]


Nottingham to sell through L&G Mortgage Club

The Nottingham Building Society is now distributing its residential and buy-to-let products through Legal & General Mortgage Club. Nottingham Building Society head of intermediary sales Nikki Warren says: “We are delighted to be taking these steps with L&G Mortgage Club. We want to help as many brokers as we can to allow them to offer […]


FOS: Lloyds most complained-about mortgage firm in H1

Lloyds was the most complained-about mortgage and home finance brand in the first half of the year, with 769 new cases received, according to the Financial Ombudsman Service. The second was Santander UK with 563, then Barclays with 473, Nationwide with 433 and NRAM with 325. NatWest was the sixth most-complained about firm, with 280 […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


News and expert analysis straight to your inbox

Sign up