Aldermore has reduced rates across its buy-to-let (BTL) and residential owner-occupied mortgages, for both new and existing customers.
With immediate effect, the lender made reductions of up to 0.50% across its BTL range, including individual and company landlords with single residential investment properties, individuals, companies, houses in multiple occupation (HMOs) and multi-unit freehold deals, and more.
As for Aldermore’s residential owner-occupied range, 0.60% reductions were introduced for standard level 1 and 2 deals.
High loan-to-value (LTV) products have been reduced up to 0.70%, while variable products benefit from cuts of 0.25%.
For existing customers, there is now a 0.60% reduction for 2-year fixed standard products, a 0.50% reduction for 5-year fixed standard products, and 0.25% reductions for variable products.
In addition, Aldermore introduced 0.70% reductions for 2- and 5 year fixed High LTV and Help to Buy: equity loan products.
Jon Cooper, head of mortgages at Aldermore, said: “Our core purpose is to help people go for it in life and our rate reductions offer something for everyone, whether it’s landlords, home movers, existing homeowners wanting to remortgage or those looking to get on the property ladder for the first time.
“We know that people’s circumstances can be varied and complex, and that they often don’t fit in to the boxes other lenders require them to, so it can be a real challenge to receive the financial support they need.
“Our human approach to lending, and our specialist advisers consider each case on an individual basis which gives us more of an opportunity to support our customers in helping them to find the mortgage that is right for them.”
The rate changes come a month after Aldermore announced three new pledges for its broker partners.
Among these pledges was Aldermore’s promise to offer at least one full working days’ notice of any product withdrawal, as well as guaranteeing 10 days to convert a decision in principle (DIP) into a full mortgage application.
