Aldermore has reintroduced a broader range of mortgages for owner occupiers in a bid to support often overlooked customers.
Aldermore’s reintroduced mortgages are specifically designed to help get first-time buyers onto the property ladder, provide greater mortgage choice for the self-employed, and offer mortgages to customers with historic credit issues who are struggling to get a mortgage elsewhere.
The mortgage products are organised over three levels of criteria, dependent on the customer’s credit profile.
These levels include: Level 1 with rates from 5.44% with a £1,999 fee, up to 95% loan-to-value (LTV), Level 2 with rates from 5.84% with a £1,999 fee, up to 95% LTV, and Level 3 with rates from 6.34% with a £1,999 fee, up to 80% LTV.
As part of the changes, combined county court judgements (CCJs) and defaults up to £300 per applicant will now be ignored across all levels of criteria, while historic mortgage loan arrears, CCJs and defaults from six months are permitted on Level 3 offers.
Jon Cooper, director of mortgage distribution at Aldermore, said: “We’re aiming to offer more people the option to achieve their homeownership goals.
“We back people to go for it in all walks of life; more choice for borrowers, increased resources for broker partners and ultimately, greater outcomes for those we serve.
“These latest changes cater to the diverse needs of today’s homebuyers, with Aldermore’s expert team on hand to unlock new possibilities for our customers.”
