Aldermore makes changes to variable mortgage rates

Following the 0.25 % increase to the Bank of England Base Rate, Aldermore bank has confirmed it will increase variable mortgage rates by 0.25%.

Customers with mortgages linked to the Bank of England Base Rate (BBR) will increase by 0.25% on 1 April 2022 for existing customers. From 22 March 2022 all new illustrations and mortgage offers (origination) will reflect the new BBR.

The Aldermore Managed Rate (AMR), Aldermore’s standard variable mortgage rate, will increase from 4.98% to 5.23% from 1 April 2022 for existing customers.

From 22 March 2022 all new illustrations and mortgage offers (origination and product switch) will reflect the new AMR.

Aldermore customers affected by the announcement will be informed of the changes to their account in line with their account terms and conditions.