Challenger bank Aldermore has confirmed it is to enter the Help to Buy mortgage guarantee scheme on 16 December.
Aldermore had previously stated its intention to enter the scheme but today’s announcement was the first confirmation of an entry date.
The first challenger bank to join the initiative, Aldermore is also the first to offer the mortgage guarantee on remortgage deals as well as purchases.
The bank will offer two-year fixed mortgages for loans between 85.01 and 95 per cent.
Aldermore managing director of residential mortgages Charles Haresnape says: “I am delighted to announce Aldermore’s participation in the Help to Buy guarantee scheme.
“We are the first and only bank in the scheme to offer remortgages so far.”