Aldermore unveils 90% LTV first-time buyer deals

Aldermore unveils 90% LTV first-time buyer deals

For a limited time Aldermore is offering free standard valuations on its high loan-to-value (LTV) purchase-only products, with no product fees.

Available immediately with free valuation and no product fees are purchase only two-year fixed rate deals up to 90 per cent LTV at 4.58 per cent, a two-year fixed rate up to 95 per cent LTV at 5.08 per cent, a five-year fixed rate up to 90 per cent LTV at 4.68 per cent, and a five-year fixed rate up to 95 per cent LTV at 5.18 per cent.

Damian Thompson, director of mortgages at Aldermore, said: "There are many in the UK who are able to afford mortgage repayments, but are hindered by the struggle to raise an adequate deposit and pay the associated fees involved in buying.

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"This is starkly illustrated in our latest first-time buyer index, which found that raising a deposit still remains the biggest obstacle for one in four (26 per cent) prospective first-time buyers.

"We want to continue to offer a variety of products that provide additional support to new buyers struggling to navigate the often complex and challenging housing conditions in the UK, so they can turn home ownership into a reality."

Ray Boulger, senior mortgage technical manager of John Charcol, said: "No arrangement fee and a free valuation are always welcome and their benefits need to be factored in by brokers when assessing the competitiveness of particular deals.

"For clients who don't qualify for prime deals the lender which offers the best value will be very much criteria, as well as price, driven.

"It is notable that the difference between Aldermore’s two and five-year rates is only 10 basis points and so if a client is unlikely to qualify for a prime deal after two years the five-year option could be more interesting."