Aldermore has announced a renewed focus on residential homeowners, introducing several new limited edition mortgage products and increasing loan-to-income (LTI) limits for owner occupiers.
The following residential owner-occupier rates are available immediately:
Level 1
New 2-year fixed rate, zero fee, 5.94% up to 85% LTV
New 2-year fixed rate, zero fee, 5.99% up to 90% LTV
New 2-year fixed rate, zero fee, 6.29% up to 95% LTV
Level 2
New 2-year fixed rate, zero fee, 6.48% up to 85% LTV
New 2-year fixed rate, zero fee, 6.64% up to 90% LTV
Alongside these limited edition products, Aldermore has updated its affordability criteria with higher LTI multiples:
Income under £40k: LTI up to 4.75x for <80% LTV, 4.49x for >80% LTV (previously 4.49x across all LTV bands)
Income £40k–£60k: LTI up to 5.50x for <80% LTV, 5.00x for >80% LTV (previously 4.49x)
Income over £60k: LTI up to 6.00x for <80% LTV, 5.50x for >80% LTV (previously 5.49x)
These changes allow higher borrowing capacity for many applicants. For example, a household with £70k income could access up to £35k in additional borrowing with a deposit of 20% or more. Families with a combined income of £45k could borrow over £20k more than before, even with just a 5% deposit.
“Aldermore backs people who want to make things happen, whether it’s buying your first home, moving up the ladder, or investing in property. We’re reigniting our residential mortgage proposition, and brokers will see targeted enhancements to our owner-occupier range in the months ahead," explained Jon Cooper, director of mortgages at Aldermore. “I’m especially pleased to announce higher LTI limits. For many clients, this could be the difference between securing their home or missing out, and this offers a real opportunity for brokers to deliver more for their customers.”
