Aldermore cuts residential and buy-to-let rates by up to 0.50%

Aldermore has announced the launch of new limited edition mortgage products and reduced rates across its residential, buy-to-let and product switch ranges.

In Aldermore's residential range, Level 1 rates have reduced by 0.24% on average, with new mortgages launching up to 98% LTV.

A new limited edition five-year fixed rate at 98% LTV has also been priced to match the equivalent 95% LTV product. In addition, there's new limited edition Level 2 and 3 products at 90% and 95% LTV, priced to match equivalent Level 1 products.

In Aldermore's buy-to-let range, two and five-year core rates have reduced by up to 0.20%, with new 75% LTV two-year fixed rates launching at 3.59% with a 5% fee, 4.59% with a 3% fee, and 6.09% with a £1,999 fee.

For HMOs and multi-unit freeholds, two-year fixed rates have reduced by 0.45% and five-year fixes by 0.30%. New 75% LTV two-year fixes have also launched from 3.74%.

For product switch, residential two-year fixed rates have reduced by up to 0.50%, with five-year fixes down by up to 0.22%. Buy-to-let two and five-year fixes have reduced by up to 0.45%.

The latest changes follow the launch of a new five-tier cascade lending approach, designed to help brokers find solutions for more customers whose circumstances may not fit traditional high street criteria.

Jon Cooper, director of mortgages at Aldermore, commented: “We're pleased to announce rate reductions across our product range, building on the launch of our new five-tier cascade lending approach. Together, these latest initiatives provide greater choice across our residential and buy-to-let ranges, helping brokers support more homeowners and landlords with the right lending solutions.

"By listening closely to our broker partners, we continue to develop tailored, flexible products that reflect the varied and increasingly complex needs of today's homeowners and landlords."