Aldermore reveals mortgage product range
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Aldermore has today announced details of its residential and buy-to-let mortgage range.
The lender has been working with a small group of brokers to develop the range, which will be launched as soon as final systems testing has been completed.
Aldermore says that if the testing is successful it could start lending within a few weeks.
The residential range, for those who have not been declared bankrupt or CCJs in the last 36 months, includes a two-year discount with a rate starting at 3.98 per cent and a fee starting at 1 per cent. There is also a three-year and five year-fixed rate deal with rates starting at 4.93 and 5.23 per cent respectively.
The buy-to-let range includes a two-year discount starting at 4.98 per cent and a 1.25 per cent fee. There are also three-year fixed starting at 5.78 per cent and a five-year fixed-rate starting at 5.93 per cent.
Both ranges carry loan-to-value options of up to 65, 75 and 80 per cent. The products will only be available via intermediaries.
Aldermore residential mortgages chief executive Colin Snowdon says: “Our testing has shown that it will take brokers no more than a few minutes to submit a case online and get a decision in principle and we have a team of experienced underwriters here in Wilmslow who are ready to help applications complete as quickly as possible.
“I encourage brokers to now go online and see for themselves what we have to offer. We are taking a fresh perspective on the mortgage market, with a range of products designed to help creditworthy borrowers who are being frustrated by onerous credit scoring systems and a lack of available funding.”
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