Aldermore launches remortgage range

Aldermore launches remortgage range

Specialist bank Aldermore has launched a range of remortgage products with an extended maximum loan-to-value limit of 90 per cent.

The range includes limited edition rates of 4.48 per cent, which is fixed for two years, or 4.58 per cent, which is fixed for five years. 

Charles McDowell, commercial director for mortgages for Aldermore, said: “We are pleased to announce the latest additions to our remortgage range. In addition to providing budgetary certainty, these remortgage offers provide customers with the chance to raise capital for property related purposes, such as home improvements, and it is also ideal for those who want to pay back their equity loan on a Help to Buy: equity loan scheme.

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“We aim to ensure our products give our customers the best possible options, and recognise that each individual’s circumstances are different, so we continue to review our product offering to ensure customers receive the financial support they need.”

The limited edition remortgage products come with no valuation, legal, application or product fees.

Aldermore has said that while the rates are a limited edition offer, the extension to 90 per cent LTV would be kept as part of the ongoing range.

It added that it would give brokers suitable notice about when it planned to take the products off the market.

Daniel Bailey, mortgage broker from Middleton Finance in Sheffield, said: "Aldermore offering a 90 per cent product is great news for home buyers and a welcome addition to the higher loan to value part of the market.

"They are not offering the most competitive rates but Aldermore are a good niche lender who can often lend where a high street lender can not."