View more on these topics

Aldermore rejigs high-LTV offerings

Aldermore has added features to a select portion of its residential mortgage range.

Specifically, the specialist lender is now offering three-year fixed options across no product fee mortgages, 85 per cent LTV options on no product fee purchase products, and introducing remortgage products that lack a product fee and come with free legals and a free valuation.

In terms of residential purchase-only, the 85 per cent LTV product starts at 4.18 per cent and comes in two-, three-, and five-year flavours, while the 90 per cent LTV and 95 per cent LTV products start at 4.58 per cent and 4.88 per cent respectively, also having the aforementioned fixed rate options.

The remortgage product is available at either 85 per cent LTV or 90 per cent LTV, with 0.10 per cent taken from its rate to now come in at 4.18 per cent. Borrowers can now choose a three-year fixed rate option as well as the two- and five-year choice that previously existed.

Meanwhile, the purchase and remortgage options command a £999 product fee and range from 85 per cent, starting at 3.88 per cent, to 95 per cent, starting at 4.58 per cent. This is also available on two-, three- and five-year fixed terms.

Aldermore director of mortgages Damian Thompson says: “Home buyers are more varied and complex than ever before, and we want to provide products that fit them, not them that have to fit the product.

“Aldermore’s human approach to lending allows us to consider each case on its individual merits, so those that don’t fit in the boxes other lenders require have the opportunity to find the mortgage that is right for them.”

Recommended

Mark Fleet leaves John Charcol

John Charcol chief executive Mark Fleet is set to leave the mortgage broker. His move comes after joining the firm in September 2017, with the firm saying that he was brought in to “deliver a two-year change program, which has now been completed.” It adds that Fleet will focus on new ventures. Chairman Ian Darby […]

housing market

Family launches three new RIOs

Family Building Society has launched three new retirement interest-only mortgage products. The lender’s 50 per cent LTV five-year fix comes in at 3.69 per cent and has a tiered ERC at 5 per cent in the first year of the mortgage falling year-on-year to 1 per cent in the last year, with 10 per cent […]

Newsletter

News and expert analysis straight to your inbox

Sign up