Aldermore today announces the reintroduction of a broader range of mortgages for owner occupiers.
The lender wants to support often overlooked customers. Aldermore’s reintroduced mortgages are specifically designed to do three things: help get FTBs onto the property ladder, provide greater mortgage choice for the self-employed, and offer mortgages to customers with historic credit issues who are struggling to get a mortgage elsewhere.
The mortgage products are organised over three levels of criteria, dependent on the customer’s credit profile:
Key features include1:
One in five UK adults1 has a poor credit score, meaning that there are potentially millions of people with historic credit issues who are held back from buying their home or struggling to remortgage.
Aldermore’s most recent FTB Index2, a study of FTBs and their experiences in purchasing a property, discovered that 17% of prospective FTBs reported having poor credit history and 23% were rejected for a mortgage.
Jon Cooper, director of mortgage distribution at Aldermore, comments:
“We’re aiming to offer more people the option to achieve their homeownership goals. We back people to go for it in all walks of life; more choice for borrowers, increased resources for broker partners and ultimately, greater outcomes for those we serve. These latest changes cater to the diverse needs of today’s homebuyers, with Aldermore’s expert team on hand to unlock new possibilities for our customers.”
**Ends**
Notes to Editors
1 https://www.finder.com/uk/credit-score/credit-score-statistics
2 https://www.aldermore.co.uk/media/11bgv01g/first-time-buyer-index-2024-1.pdf
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