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Aldermore cuts its rates for switchers and homebuyers

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Aldermore cuts its rates for switchers and homebuyers

Specialist lender Aldermore has announced that it is introducing new lower rates for remortgage and purchase customers, available from today.

The Limited Edition deals start from just 2.38%, and the bank said it is lowering the cost of its mortgages to help any customers who could save on their monthly payments or who are unable to switch to a better deal with their current lender.

The reduced remortgage only products include a fee-free, two-year fixed rate remortgage at 2.38% up to 75% of the property’s value, or 2.68% up to 80% loan-to-value. Both have been chopped by 0.10%.

The purchase only products have the same interest rates but come with an arrangement fee of £999.

Charles McDowell, commercial director, mortgages said: “In an environment of consistently low interest rates, it’s tempting for homeowners to relax and go with the flow, when it comes to their mortgage. But if they’re on their lender’s standard variable rate, it’s likely they could get a better deal elsewhere and save money on their monthly payments, or pay off their mortgage quicker.
“The opportunity to remortgage could also offer customers the chance to free up some cash, giving borrowers, in particular the self-employed, more flexibility.”

Those who are self-employed with as little as one year of accounts could benefit from Aldermore’s individual underwriting approach, whether they are looking to remortgage or purchase a new property.

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