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Aldermore slashes mortgage rates by up to 0.5%

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Aldermore slashes mortgage rates by up to 0.5%

Aldermore has chopped rates on its residential mortgage range by up to 0.5%, with deals now available from 2.88%. 

Two-year fixed products see the biggest reduction, with rates cut by 0.5% to 2.98% for those with a 25% deposit and 3.28% for borrowers with 20% upfront.

Term variable deals also see a 0.5% cut to 2.88% and 3.18%, up to 75% loan-to-value and 80% LTV respectively.

Three and five-year fixed rates have also seen significant reductions of 0.4%.

Buy-to-let bonus

The specialist bank has also cut the cost of its deals for landlords who are purchasing or remortgaging single residential properties, with five-year fixed rate mortgages now on offer from 2.98% – down a significant 2%. 

This deal is available with a 25% deposit and the fee has also been chopped from 2.5% to 2%.

Charles McDowell, commercial director, mortgages, at Aldermore, said: “Our latest rate reductions offer something for everyone, whether it’s landlords, home movers, existing home owners wanting to remortgage or those looking to get on the property ladder.

“These reductions reaffirm our commitment to offering a range of mortgage options based on customers’ needs.”

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