Residential owner-occupier core range rates have been cut by up to 0.86% for levels one, two and three, with rates now starting from 4.95%.
Aldermore is moving many of its limited edition products for landlords and owner occupiers into its permanent core range, while cutting rates for existing customers seeking to switch products.
The changes take effect immediately and include rate reductions across multiple product categories for both new and existing customers.
New customers face a mixed picture. Selected buy-to-let limited edition products will be withdrawn and replaced with core range equivalents, bringing reductions across two-year and five-year fixed rates, including 80% loan-to-value products, multi-unit freehold and houses in multiple occupation/multi-unit freehold for multi-property portfolios.
Core range two-year fixed rates are now reduced by up to 0.40%, with five-year fixed rates cut by up to 0.45%. However, five-year fixed 1.50% products with £1,999 fees will remain as limited editions.
For residential owner-occupiers, all limited edition products will be withdrawn and replaced with core range equivalents. Selected core range fixed rates have been reduced by up to 0.86% for levels one, two and three, with rates starting from 4.95%.
Existing customers switching products will see more substantial cuts. Residential owner-occupiers can access up to 0.80% reduction on two-year fixed rates, with rates starting from 5.41%, and up to 0.45% reduction on five-year fixed rates from 5.29%.
Buy-to-let landlords, whether individual or company landlords with single residential investment properties, can access up to 0.10% reduction on two-year fixed rates from 5.89% and up to 0.15% reduction on five-year fixed rates from 5.64%.
"We aim to offer solutions that genuinely support a wide range of customer circumstances, giving both landlords and owner occupiers more of the options they need," said Jon Cooper, director of mortgages at Aldermore (pictured). "Our brokers are a vital component in making that happen. As part of that, we're committed to offering brokers flexible and competitive products, as well as a consistently high standard of hands-on service."
