Aldermore joins the Help to Buy equity loan scheme

Aldermore has joined the Help to Buy equity loan scheme.

The lender is offering a two-year fixed rate at 3.98 per cent, with a maximum LTV of 75 per cent. It has a £999 fee and comes with a free standard valuation.

It is distributing through Acumen, RSC New Homes, New Homes Group and Mortgage Bureau (not to be confused with Mortgage Advice Bureau). The lender is also offering it to direct customers.

Aldermore is already a part of the Help to Buy mortgage guarantee scheme.

Aldermore managing director of mortgages and commercial lending Charles Haresnape says: “We are delighted to be launching our Help to Buy equity loan mortgage today. This complements our existing range of Help to Buy mortgage guarantee products and demonstrates our commitment to supporting first-time buyers, home movers and house builders.

“It is essential that the supply of new and affordable housing is increased in Britain to keep pace with demand from the formation of tens of thousands of new households each year. Joining the Help to Buy equity loan scheme is one of the ways in which we can help support this. I’m confident that this will prove to be successful and we hope to roll the scheme out to additional brokers in due course.”