Mortgages FAQs

• Why Aldermore

  • My mortgage application has been rejected by high street lenders. Can I borrow from Aldermore?

  • Quite possibly, subject to status and the current lending criteria. If you have you been turned away by high street lenders even though you're creditworthy, then contact us. We provide mortgages to creditworthy borrowers who have been denied access to high street products.

  • Why will Aldermore consider my application, when I have been rejected elsewhere?

  • Our mortgages are designed for creditworthy borrowers being penalised by automated credit scoring systems. At Aldermore we underwrite all applications using experienced underwriters, taking a common sense approach to personal circumstances.

    This means we base our decisions on sensible underwriting rules, applied by experienced people on a case by case basis.

    - We carefully consider all facts presented by an applicant, taking into account individual circumstances

    - We don't use tick box underwriting to automatically reject applicants with recent job moves, multiple income streams or self-employment and little credit history

    - We look at cases based on individual merit, we will consider occasional missed payments on credit cards, mobile phones and other unsecured credit.

  • Why should I consider an Aldermore Mortgage?

  • Aldermore meets the needs of real people not banking stereotypes. That's why we're the place to turn to when others aren't sure how to meet your mortgage needs.

    We provide mortgages to creditworthy borrowers who have been denied access to high street products. Unlike many other lenders we use experienced underwriters to assess applications, not automated credit scoring systems. Our mortgage advisers offer a personal service to advise you on the right mortgage for you and to help you through the full mortgage journey.

    Find out more.

• About Aldermore

  • Who are Aldermore?

  • Back in 2009, Aldermore's CEO, Phillip Monks, bravely launched a new British bank in the middle of a credit crunch. With the support of Europe's largest private equity investment advisor in the financial services sector, Phillip and his team acquired a banking licence. This gave Phillip's team the beginnings of the infrastructure they needed to launch a new, dynamic and vibrant British bank, offering the consumer straightforward products and great service and value to UK small and medium size businesses (SMEs).

    Find out more about our journey.

  • I haven’t come across Aldermore before. How credible are you?

  • Aldermore is the fastest growing bank in the UK. Since our launch in 2009, we have made major strides and now have £2.1 billion in assets. As the bank has grown, Aldermore has been fortunate enough to receive numerous awards and industry accolades across all parts of the business.

    Our mortgage awards include:

    - '5 Stars' - Residential Mortgages (Financial Adviser Service Awards 2012 and 2011)

    - 'Winner' - Best Specialist Lender (Mortgage Strategy Awards 2012)

    - 'Winner' - Best Non-Standard Product Provider (What Mortgage Awards 2011)

    - 'Winner' - Best Non-Standard Product Provider (What Mortgage Awards 2012) 

    - 'Winner' - Best Services from a Buy to Let Mortgage Provider (Business Moneyfacts Awards 2012)

    View further details of our Awards and Financial Performance.

  • How can I visit Aldermore?

  • Aldermore does not have any high-street branches. Instead we use leading edge systems and digital capabilities to deliver unparalleled service to our customers. Our straightforward service means convenient phone, online and email contact with no need to make special journeys to branches.

    Call us on 0333 321 1001 and talk with one of our qualified Mortgage Advisers.

• General Mortgage Questions

  • What types of mortgages do Aldermore offer?

  • We offer mortgages for all circumstances. So, if you are a First Time Buyer looking to step onto the property ladder and purchase your first home. If you are moving home and need a new mortgage or if you are looking to re-mortgage from your existing lender, we will have a mortgage that will suit your needs.

    We are also Buy to Let specialists, offering mortgages for new and experienced buy to let landlords. So whether you're just starting out, looking to expand your portfolio, or remortgaging you've come to the right place.

  • What type of mortgage would suit me?

  • That would depend on your personal circumstances. But our expert team of qualified Mortgage Advisers will take time to understand your specific individual circumstances and will then recommend an Aldermore mortgage that is right for you.

    Call us on 0333 321 1001 and talk with one of our qualified Mortgage Advisers.

  • Am I eligible for a mortgage with Aldermore?

  • Quite possibly, subject to status and the current lending criteria (view a snapshot of our Lending Criteria in our Product Guide). If you have you been turned away by high street lenders even though you're creditworthy, then contact us. We provide mortgages to creditworthy borrowers who have been denied access to high street products.

    Call us on 0333 321 1001 and talk with one of our qualified Mortgage Advisers.

  • How much can I borrow with Aldermore?

  • This depends on various factors, such as the amount of deposit you have, what other financial commitments you may have (such as other loans and overdrafts) and the amount you earn. Therefore the best way to establish how much you may be able to borrow is to contact one of our qualified mortgage advisers.  Either call us on 0333 321 1001 or email mortgage.advisers@aldermore.co.uk

  • How much deposit do I need?

  • Most mortgage deals will require some level of deposit. The more deposit you have the cheaper the cost of borrowing the money. As a general rule you will need to provide a minimum of 20% of the property's value.

    However, if you don't have a deposit or only a very small one, there may still be options available to you. For example, Aldermore's Family Guarantee Mortgage allows you to borrow up to 100% of the value of the property.

  • How do I apply for a mortgage?

  • Contact one of our qualified mortgage advisers, either by calling us on 0333 321 1001 or emailing mortgage.advisers@aldermore.co.uk

  • Where can I view Aldermore’s mortgage products, including rates and fees?

  • To view our latest rates for Buy to Let, please take a look at our Product Guide. For all other enquires, our qualified mortgage advisers are available either by calling us on 0333 321 1001 or emailing mortgage.advisers@aldermore.co.uk

  • I have some further questions about Aldermore’s mortgages, who can I speak to?

  • Our qualified mortgage advisers, are available to take your queries. Either call us on 0333 321 1001 or email mortgage.advisers@aldermore.co.uk

• Mortgage Arrangement Queries

  • When should I organise my mortgage?

  • A mortgage offer is usually made once you've had an offer accepted on a property. However, you can find out if you can get a mortgage and how much you can borrow, prior to finding a property by approaching us for an 'agreement in principle' or a 'decision in principle'. This is a useful statement from a lender that in theory they will be able to lend you the cash.

• Other Questions

  • Do you offer mortgages to the self-employed?

  • Yes - we base our decisions on sensible underwriting rules, applied by experienced people on a case by case basis. We carefully consider all facts presented by an applicant, taking into account individual circumstances.

    We would ask that you have been trading for a minimum period of 2 years and are able to provide certified accounts covering the last 2 years or an SA302.

    Call us on 0333 321 1001 and talk with one of our qualified Mortgage Advisers.

  • Can I switch my mortgage to you?

  • Talk to us now to find out. We base our decisions on sensible underwriting rules, applied by experienced people on a case by case basis. We carefully consider all facts presented by an applicant, taking into account individual circumstances.

    Call us on 0333 321 1001 and talk with one of our qualified Mortgage Advisers.

  • What mortgages do you offer for first time buyers?

  • If you are struggling to raise a deposit, we offer a mortgage which doesn't need one! Our 100% mortgage is available to first time buyers. Take a look at our Family Guarantee Mortgage page.

  • How much can first time buyer’s borrow?

  • Up to 100% of the purchase price of the property, via our Family Guarantee Mortgage.