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Aldermore cuts rates by up to 0.80% for limited period

Aldermore is cutting rates on a number of its residential and buy-to-let mortgages for an undetermined limited period.

The residential term variable rate of 4.28 per cent up to 80 per cent LTV has been cut by 0.3 per cent to 3.98 per cent.

The buy-to-let two-year fixed rate up to 80 per cent LTV has been cut by 0.8 per cent, from 5.78 per cent to 4.98 per cent.

The buy-to-let variable is now 4.48 per cent to 75 per cent LTV, down by 0.5 per cent to 4.48 per cent.

The Family Guarantee Mortgage has also been cut, with the two and three-year fixed rates being reduced 0.5 per cent from 5.98 per cent to 5.48 per cent, from 95 per cent to 100 per cent LTV.

Aldermore says the duration of the limited period has not yet been decided and will be determined by the uptake during the initial few weeks, for review in the new year.

Aldermore Residential Mortgages managing director Charles Haresnape says: “We’re delighted to announce these rate reductions at a time when the mortgage market traditionally slows-down over the winter period. These rate cuts will be for a limited period only, so brokers need to submit cases as soon as possible to avoid disappointment.”

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