Aldermore makes changes to its two-year fixes

Aldermore has detailed a series of rate changes it has made across its high LTV two-year product range.

Specifically, the 85 per cent LTV for purchases and remortgages has been cut from 4.78 per cent to 3.98 per cent, the 90 per cent LTV, for purchase only, from 4.98 per cent to 4.28 per cent, and the 95 per cent LTV, also for purchase only, from 4.98 per cent to 4.78 per cent. All command a £999 product fee.

Further changes in the two-year suite are in the purchase only, no product, legal and valuation fee range: the 90 per cent LTV has gone from 5.18 per cent to 4.58 per cent, and the 95 per cent, 5.18 per cent to 5.08 per cent.

Additionally, for remortgage only, with no product, legal and valuation fees, the 85 per cent LTV has been reduced from 4.48 per cent to 4.28 per cent, and the 90 per cent LTV, from 4.48 per cent to 4.58 per cent.

The lender has also rejigged its tiers. Within its Level 1, 2 and 3 ranges, which are aimed at would-be customers with credit blips, the changes (all across two-year fixes) are as follows:

Within Level 1, the 75 per cent LTV for purchase and remortgage with £999 product fee, has been increased from 2.38 per cent to 2.48 per cent, and the 75 per cent LTV remortgage only, with no product, legal and valuation fees, has also gone up, from 2.38 per cent to 2.78 per cent.

Under Level 2, the 75 per cent LTV for purchase and remortgage, with £999 product fee, has been reduced from 3.98 per cent to 3.48 per cent.

Finally, in the Level 3 range, the 75 per cent LTV for purchase and remortgage has been reduced from 4.48 per cent to 3.98 per cent.

Aldermore director of mortgages Damian Thompson says: “The latest changes to our residential mortgage range are ideal for those looking to buy a new home or remortgaging as we enter the autumn housing market.

“At Aldermore we recognise people’s situations can be complex, so it is important to consider each case on an individual basis. Combined with a human approach to lending, these latest changes across our residential mortgage range provide much needed financial support for those going through the challenging process of buying a home.”

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