Aldermore has reduced rates across its residential owner occupier range, with a focus on higher loan-to-value (LTV) mortgages.
The lender’s new customers will see two-year fixed rates, up to 95% LTV, lowered by as much as 0.60%. Rates will now start from 6.54% and products include zero and £999 fee options and a discounted reversion rate.
Three-year fixed rates, up to 95% LTV, have been cut by as much as 0.35% with rates now starting from 6.59%. These include zero and £999 fee options and discounted reversion rate.
Five-year fixed rates, up to 95% LTV have been sliced by 0.70%, starting at 5.99%. These include zero, £999 and £1,999 fee options.
Meanwhile, existing customers will see fixed rate products, above 80% LTV lowered by as much as 0.60%, starting at 6.19%.
Aldermore director of mortgages Jon Cooper says: “At Aldermore we’re keen to stay fresh and offer competitive rates that stand out.”
“We’re especially focused on supporting first time buyers and those with lower deposits, making home ownership more accessible. With these changes and expert guidance from a broker, stepping onto the property ladder becomes more achievable.”
Elsewhere, HSBC has made changes to its residential and buy-to-let (BTL) mortgage products.
From tomorrow, the bank will introduce a two- and five-year fixed BTL product at 80% LTV across its purchase, remortgage and existing customer range, which is available for A, B and C energy performance certificate rated properties only.
For existing residential customers switching, rate on two-year fixed fee saver products at 60% LTV and above will be lowered, while the five-year fixed premier exclusive at 60%, 80%, 85% and 90% LTV will also be reduced.
For residential first-time buyer and home mover products, two-year fixed standard rates at 60%, 70%, 75%, 80%, 85% and 90% LTV will be cut, while the five-year high value mortgages product will be cut across 70% and 75% LTV.
Products in the residential remortgage cashback range have also been reduced. Rates on the two-year fixed standard across 60%, 70%, 75%, 80%, 85% and 90% LTV will all be trimmed.
International residential two- and five-year fixed fee saver rates will also be lowered at 70% and 75% LTV while five-year premier exclusive rates at 70% and 75% LTV will go down.
