Aldermore revamps FTB rates

Aldermore has announced that it has enhanced its first-time buyer rates as well as making changes to new build mortgage ranges and other products.

Related topics:  Finance
Warren Lewis
22nd February 2018
FTB 9
"These latest changes will support those with smaller deposits looking to reach the first step on the housing ladder"

According to the lender, 95% LTV rates are now available from 4.98% with a £999 product fee and 5.18% with no product fee.

The bank has also introduced a new five-year fixed rate mortgage from 5.28% with no product fee for purchase applications up to 95% LTV.

In addition, Aldermore has reduced rates on its Help to Buy: equity loan mortgage range, introducing no product fee options and reiterating its service level commitments for new build applications.

Help to Buy products include two, three and five year fixed rates which are now available from 3.78% with a £999 product fee or 3.98% fee-free.

Remortgage only products up to 85% LTV, which now have no upfront fees, are available from 4.98% fixed for two years and 5.08% fixed for five years.

Charles McDowell, commercial director of mortgages at Aldermore, said: “We believe that first-time buyers are the lifeblood of the market, our latest research shows that one in three (35%) believe buying their first home will be an extremely difficult process, with raising a deposit their biggest concern.

We recognise that service is critical for all applications, but especially for new build properties. Which is why we have a dedicated process ensuring all new build applications receive an outstanding level of service meaning that we often have new build offers issued within 48 hrs of receiving the full application.

Whilst there is no quick fix to address the housing crisis, at Aldermore we listen carefully to customers and brokers to ensure our products give first time buyers the best possible options in a challenging market. This is why we are proud to announce reduced rates and new products across our high loan to value and Help to Buy mortgage ranges.

These latest changes will support those with smaller deposits looking to reach the first step on the housing ladder.”

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