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Aldermore slashes mortgage rates and reintroduces 95% LTV for owner occupiers

Mortgages 5 min read 15/01/2024

Aldermore today announces a raft of rate reductions across both its buy to let (BTL) and residential owner occupied mortgages. The new rates will be effective from tomorrow, Tuesday 16 January.

The lender is cutting rates by 0.50% across BTL and residential owner occupied products, with some of these rates market-leading amongst specialist lenders, as of the time of publishing. The bank is introducing a range of other enhancements for borrowers as well such as increased loan to values (LTVs), with the full suite of improvements listed below.

Residential owner occupied

  • All fixed rates reduced by 0.50% for new customers and up to 0.50% for existing customers
  • Rates from 5.04%
  • LTVs up to 95%
  • Reintroduction of 95% LTV offers enhanced choice for first time buyers
  • Max LTVs for new builds increased to 90% for houses and 85% for flats
  • Max LTVs for remortgages with capital raising for non-property related purposes increased to 85%

 

Buy to let

  • Individual and company landlords with single residential investment properties PLUS multi property product for individual and company landlords with residential investment properties
  1. All fixed rates reduced by 0.50% for new customers and up to 0.50% for existing customers
  2. Rates from 4.29%
  3. LTVs up to 75%

 

  • HMO and multi unit freehold (up to 6 bedrooms / 6 units) PLUS multi property product for individuals and company landlords with HMO and multi unit freehold (up to 6 bedrooms / 6 units)
  1. All fixed rates reduced by 0.50% for new customers and up to 0.50% for existing customers
  2. Rates from 4.79%
  3. LTVs up to 75%

 

Jon Cooper head of mortgages at Aldermore, adds:

“We’re still only in January but 2024 has already seen major shifts in the property market. Lenders across the board are doing their utmost to react to a competitive rate environment.”

“Aldermore has taken time to assess the market changes thoroughly and analyse how to best serve our borrowers. As a result, we’re now pleased to introduce these major rate reductions, as well as back customers at 95% LTV where there are limited options available in today’s marketplace. We hope that these improvements continue to enable our broker partners to support both landlords and owner occupier customers with their property aspirations.”

**Ends**

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