Opening doors to Residential Mortgages

We provide mortgages to creditworthy borrowers denied access to high street products.

We use experienced underwriters to assess applications, not automated credit scoring systems.  So if your creditworthy client has been turned away by high street lenders, get in touch. We're here to help you deliver a service and solution they simply won't find anywhere else.

View our full product range

For a printer friendly version of the Product Guide, visit our Literature & Downloads page.

From Tuesday 7th October we are making some changes to our product range and lending criteria:

Buy to Let Range:

  • Term variable rates reduced, now from 4.48% - with pay rate rental calculation


Help To Buy Range

  • Revised fixed rates from 5.99%


Lending Criteria Change:

  • Remortgage option withdrawn for Help to Buy: mortgage guarantee

 

From Monday 28th July we made some changes to our product range and lending policy:

Residential Range:

  • Revised fixed rates from 3.98%
  • New remortgage only 5 year fixed rates from 5.08%


Buy to Let Range:

  • Revised fixed and variable rates from 4.48%
  • New remortgage only 5 year fixed rates from 5.68%


Lending Policy Change:

In response to the recent announcement by the Bank of England’s Financial Policy Committee, Aldermore will be implementing the following changes to our Residential Owner Occupier lending policy:

  • Loan to Income Limit
    • Above 85% Loan to Value (LTV) (including Help to Buy: mortgage guarantee) – must be less than 4.5 times income
    • Up to 85% LTV - must be less than 5 times income

The loan to income limit applies to all new business submitted from Monday 28th July. (Buy to Let products are not impacted by this change).

Aldermore’s primary assessment is carried out on an affordability basis. The introduction of loan to income limits will continue to ensure that our borrowers do not over extend themselves when entering into a mortgage with us.

 

From Monday 7th July we made the following changes to our Help to Buy: mortgage guarantee product range:

  • 2 year fixed: 5.68% to 95% LTV
  • 3 year fixed: 5.78% to 95% LTV
  • 5 year fixed: 5.88% to 95% LTV
  • Remortgage only 3 year fixed rate: 5.88% to 95% LTV


With Aldermore you benefit from:

  • Applications assessed using individual case underwriting and not credit scoring
  • Consideration for CCJs and Defaults older than 3 years
  • No valuation, legal or completion fees on Remortgage only products.

 

From Monday 16th June we made the following changes to our Residential product range:

Reduced 2 year fixed rates:

  • 3.78 % to 70% LTV, 3.98% to 80% LTV and 4.73% to 85% LTV


Revised Help to Buy Mortgage Guarantee rates:

  • 2 year fixed: 5.28% to 90% LTV and 5.58% to 95% LTV
  • 3 year fixed: 5.68% to 95% LTV
  • 5 year fixed: 5.78% to 95% LTV


Remortgage only

  • Product booking fee revised to £199

 

From Friday 23rd May we made the following changes to our Buy to Let product range:

 

  • Revised fixed and variable rates introduced at 75% LTV
  • Remortgage only product booking fee revised to £199

 

Don’t forget with Aldermore there is:

  • No set minimum income required for experienced landlords
  • No overall portfolio restrictions
  • A maximum age of 85 at the end of the mortgage term

 

From Wednesday 19th February we made the following changes to our product range:


Residential

  • Help to Buy: mortgage guarantee range extended to include new 2, 3 & 5 year fixed rates up to 95% LTV
  • Standard range extended to include new fixed & variable rates up to 85% LTV
  • Remortgage only product booking fee revised to £149
  • Family Guarantee 3 year fixed rate revised up to 100% LTV
  • 65% LTV product tier increased to 70%


Buy to Let

  • Revised fixed and variable rates introduced
  • Remortgage only product booking fee revised to £149
  • 65% LTV product tier increased to 70% for loans up to £1million

 

At Aldermore we want to help you write more business and continue to offer:

  • No restrictive credit scoring
  • 5 star customer service
  • Individual case underwriting

 

 Who we lend to

Aldermore residential mortgages are designed for creditworthy borrowers. However, we will take into account factors that can cause credit score fails. For example, applicants:

  • not yet on the voters roll because they have recently moved home
  • who have recently changed their job
  • who have satisfactorily resolved minor historic credit issues
  • who are self-employed with income generated via multiple sources
  • who are self-employed and disadvantaged by credit scoring systems favouring salaried applicants
  • currently living in rented accommodation, because they have sold their previous house

Your clients first

Our staff will look after your clients' mortgages from application through to post completion and customer service - and provide everything they may need in between.

Unlike most other lenders, we don't sub-contract mortgage servicing to third party administration companies. We take care of everything - including the normal day-to-day running of your clients' mortgages.

To find out more, call us on 0333 321 1000 or email mortgage.sales@aldermore.co.uk

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