New remortgage line launches at Aldermore

Posted on Friday, August 11 by Joy Tibbs

Aldermore has introduced a limited-edition residential remortgage-only range to take advantage of the historically low interest rate environment.

Its new two-year fixed-rate mortgage available up to 75% loan-to-value (LTV) at 2.48% is Aldermore’s lowest ever remortgage-only product. Additionally, the mortgage range has no upfront fees, although customers will have to pay a £30 funds transfer fee upon completion.

Other products in the range include a two-year fixed-rate mortgage up to 80% LTV at 2.78%; a three-year fixed-rate mortgage available up to 75% LTV at 2.58%; and a three-year fixed-rate mortgage available up to 80% LTV at 2.88%.

Charles McDowell, commercial director, mortgages, at Aldermore, said: “Our new remortgage product offering, in conjunction with our manual approach to underwriting, is ideal for those customers who are currently ‘trapped’ on their Standard Variable Rate (SVR).

“As people’s circumstances change, for example if they have become self-employed or have split from a partner, their affordability may be impacted which means they may not be able to switch to another deal with their current lender. There are millions of borrowers across the UK on SVR who could be getting better deals.”

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