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Latest Updates

See below for our recent intermediary updates. See our current turnaround times here.

wAldermore Mortgages Transition Rate (AMTR) change – 17 May 2022

Following our 3 month review AMTR has been set at 1.10% (increased by 0.50%).

We’re writing to all existing customers who are impacted by this rate change to confirm what their new interest rate and monthly payments will be.

The next AMTR review will take place on 15 August 2022.

wAldermore Managed Rate Change – 6 May 2022

Following the 0.25% increase to the Bank of England Base Rate, we’re increasing the Aldermore Managed Rate (AMR)* from 5.23% to 5.48%.

The change in AMR means our term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.25% for:

New and pipeline cases – for new business and product switch
From 10 May 2022 all new ESIS and mortgage offers (origination and product switch) will reflect the new AMR. This will impact affordability in some cases.

Existing customers

From 01 June 2022 all AMR linked variable rate accounts will be updated.  We’re writing to all impacted customers to let them know their new interest rate and monthly payments.
 
*AMR is Aldermore's standard variable rate for residential and buy to let mortgages.


Please note: Our mortgage guides will be updated on 10 May. You’ll find them here.

wWe’re withdrawing products across our residential and buy to let mortgage range - 5 May 2022

We’re withdrawing products across our residential and buy to let mortgage range from 6pm on Thursday, 5 May 2022

The following products are being withdrawn:

 Residential owner occupied standard level 1 up to 75% LTV

2 year fixed 2.78% with £999 product fee
5 year fixed 2.98% with £999 product fee
2 year fixed 3.08% with zero product fee
5 year fixed 3.38% with zero product fee

 Buy to let - individuals with single residential properties with 1.50% product fee

2 year fixed 3.18% to 75% LTV
2 year fixed 3.68% to 80% LTV
5 year fixed 3.18% to 75% LTV
5 year fixed 3.68% to 80% LTV

 Buy to let - companies with single residential properties with 1.50% product fee

2 year fixed 3.18% to 75% LTV
2 year fixed 3.68% to 80% LTV
5 year fixed 3.18% to 75% LTV
5 year fixed 3.68% to 80% LTV

 Buy to let - companies with single residential properties with zero product fee

5 year fixed 3.48% to 75% LTV
5 year fixed 3.98% to 80% LTV

We’ll process pipeline applications as usual and if you'd like to secure one of these products for your client, the latest you can submit a decision in principle (DIP) is 6pm Thursday, 5 May 2022. 

Existing DIPs will remain valid for 30 days and they'll need to be converted to full mortgage application within this time.

If you need to resubmit a DIP/enquiry, you'll need to select a new product from the range that's available at the time of submission.

Our mortgage guides will be updated on 6 May 2022.

wWe’re launching a new buy to let 5 year fixed rate and withdrawing our limited edition product from 25 March 2022

We're launching a new 5 year fixed buy to let mortgage product, for Individual landlords looking to purchase or remortgage:

5 year fixed 3.18% to 75% LTV with 1.50% fee

This will be replacing our:

Limited Edition 5 year fixed 2.68% to 75% LTV

We’ll process any pipeline applications as usual. If you want to secure this Limited Edition product, the latest you can submit a decision in principle (DIP) is 6pm, 24 March, 2022.

DIPs will remain valid for 30 days and this will need to be submitted to full application this time. If you need to resubmit a DIP, you'll need to select a new product from the range that's available at the time of submission.

wAldermore Managed Rate Change – 18 March 2022

Following the 0.25% increase to the Bank of England Base Rate, we’re increasing the Aldermore Managed Rate (AMR)* from 4.98% to 5.23%.

The change in AMR means our term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.25% for:

New and pipeline cases – for new business and product switch
From 22 March 2022 all new ESIS and mortgage offers (origination and product switch) will reflect the new AMR. This will impact affordability in some cases.

Existing customers

From 01 April 2022 all AMR linked variable rate accounts will be updated.  We’re writing to all impacted customers to let them know their new interest rate and monthly payments.
 
*AMR is Aldermore's standard variable rate for residential and buy to let mortgages.


Please note: Our mortgage guides will be updated on 22 March. You’ll find them here.

wHomes for Ukraine scheme - 16 March 2022

We’ll be supporting the Government Homes for Ukraine scheme and will provide further updates here when they’re available. 

wBuy to let for individual landlords with single residential investment properties - 3 March 2022

2 year fixed reduced rates:

  • 3.18% to 75% LTV with 1.50% fee
  • 3.68% to 80% LTV with 1.50% fee

5 year fixed reduced rate:

  • 3.68% to 80% LTV with 1.50% fee

    Available for purchase and remortgage. Free legal fees, free valuation and no funds transfer fee on remortgage. These rates are only available through our residential mortgages portal for buy to let for individual and company landlords with single residential investment properties.

    2 year fixed reduced rates:
  • 3.18% to 75% LTV with 1.50% fee
  • 3.68% to 80% LTV with 1.50% fee

 

  • 3.28% to 75% LTV with £1,999 fee
  • 3.78% to 80% LTV with £1,999 fee


5 year fixed reduced rates:

  • 3.18% to 75% LTV with 1.50% fee
  • 3.68% to 80% LTV with 1.50% fee

 

  • 3.28% to 75% LTV with £1,999 fee
  • 3.78% to 80% LTV with £1,999 fee

 

  • 3.48% to 75% LTV with £0 fee
  • 3.98% to 80% LTV with £0 fee


 Available for purchase and remortgage. Assisted legal fees, free valuation and no funds transfer fee on remortgage. These rates are only available through our commercial mortgages portal. If you don't have access to the portal, contact our business development team who'll be able to help.

 

Multi property for individual and company landlords

With single residential investment properties. Ideal for landlords who want the convenience of managing their portfolio on one mortgage account.

2 year fixed reduced rate:

  • 2.98% to 75% LTV with 1.50% fee

5 year fixed reduced rates:

  • 2.98% to 75% LTV with 1.50% fee
  • 3.28% to 75% LTV with £0 fee

    Available for purchase and remortgage. Assisted legal fees, free valuation and no funds transfer fee on remortgage. All multi property securities must be completed on the same day, see our guide for further information.
     
    These rates are only available through our commercial mortgages portal. If you don't have access to the portal, contact our business development team who'll be able to help.

 

Additional changes to our 2 year fixed reversion rates

 

We've simplified our reversion rate on 2 year fixed products for individual and company landlords with single residential properties.

2 year fixed products now revert to Aldermore Managed Rate (AMR*) + 0.00% for all LTVs.

*The AMR is a variable rate set by Aldermore

wLimited edition buy to let 5 year fixed - 3 March 2022

New limited edition buy to let 5 year fixed rate for non-portfolio individual landlords with single residential investment properties 2.68% to 75% LTV with 1.50% fee available for purchase and remortgage.

Free legal fees, free valuation and no funds transfer fee on remortgage.

These rates will only be available for a limited period through our residential mortgages portal.

wWe've increased our procuration fees - 17 February 2022

We're always looking for ways to help support our intermediary partners and we understand that placing specialist cases can sometimes take a little more of your time.

That's why we've decided to increase our proc fees by 0.10% from the 17 February 2022.

Proc fee rates will increase to 0.50% for residential mortgages and 0.60% for buy to let mortgages.

You'll receive the increased fee amount on all completed applications keyed on or after the 17 February 2022

wChange to our post-offer process for buy to let mortgages applications – 17 February 2022

To help us improve our process and save you time, we no longer need a signed and returned offer of acceptance document for buy to let applications. This applies to all new and pipeline applications.

wProduct switch rate reductions - 17 February 2022

We’ve reduced some of our product switch rates for existing Residential owner occupied and buy to let clients, and we’ve even matched some of our 2 and 5 year deals too!

You can product switch your clients up to 3 months before their current mortgage deal ends via our Residential portal, and you’ll receive a 0.30% procuration fee for every switch. Find our new rates for Residential Owner Occupied and Buy to let clients here.

Residential owner-occupied standard and high loan to value ranges

  • 2 year fixed rates – From 2.50%, reduced by up to 0.20% across 70%, 75% and 80% LTV’s
  • 5 year fixed rates – From 2.50%, reduced by up to 0.50% across all LTV bands!

Buy to let on single residential units for individual landlords

  • 2 year fixed rates – From 2.70%, reduced by up to 0.25% across 60%, 65%, 70% and 75% LTVs
  • 5 year fixed rates – From 2.70%, reduced by up to 0.65% across all LTV bands!

Do you have a buy to let client originated via our Commercial mortgages portal?

We’ve also reduced our rates for individual and company landlords with single units originated via our commercial portal. You’ll find our rate reductions here.  Please note, these rates aren’t available in our Residential portal but you can switch your client in 3 simple steps by contacting our Product switch team on 01625 469 730, or by emailing product.switch@aldermore.co.uk

Buy to let for individuals with single residential units

  • 2 year fixed rates - From 2.70%, reduced by up to 0.25% across 70% and 75% LTVs
  • 5 year fixed rates –From 2.70%, reduced by up to 0.65% across all LTV bands!

Buy to let for companies with single residential units

  • 2 year fixed rates – From 2.95%, reduced by up to 0.20% across 70% and 75%  LTVs
  • 5 year fixed rates – From 2.95%, reduced by up to 0.60% across all LTV bands

Our new product switch rates are some of the lowest we’ve ever had, and all existing customers can now be considered for a product switch provided their mortgage payments are up to date with us.

Happy switching!

wAldermore Mortgages Transition Rate (AMTR) change – 16 February 2022

Following our 3 month review AMTR has been set at 0.60% (increased by 0.45%).

We’re writing to all existing customers who are impacted by this rate change to confirm what their new interest rate and monthly payments will be.

The next AMTR review will take place on 15 May 2022.

wAldermore Managed Rate Change – 04 February 2022

Following the 0.25% increase to the Bank of England Base Rate, we’re increasing the Aldermore Managed Rate (AMR)* from 4.73% to 4.98%.

The change in AMR means our term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.25% for:

New and pipeline cases – for new business and product switch

From 8 February 2022 all new ESIS and mortgage offers (origination and product switch) will reflect the new AMR. This will impact affordability in some cases.

Existing customers

From 01 March 2022 all AMR linked variable rate accounts will be updated.  We’re writing to all impacted customers to let them know their new interest rate and monthly payments.
 
*AMR is Aldermore's standard variable rate for residential and buy to let mortgages.

Please note: Our mortgage guides will be updated on 8 February. You’ll find them here.

wWe’re expanding our residential mortgages telephony BDM team – from 31 January 2022

We’re always looking at ways to improve our service, so we’ve introduced a new way of working that’ll set us up to deliver an exceptional mortgage broker experience.

We’ve restructured our telephony BDM team and are increasing the number of colleagues from 10 to 16 to widen the service each broker receives.

We’re consolidating our original 10 sales regions into 3 regional teams:

  • North
  • Central
  • South

These changes will take place on 31 January 2022. Relationship managers will continue to serve the same areas as before. See the full regional breakdown or go to our BDM Finder and type in your postcode to view your regional contacts.

 

wWe’re launching some new product switch rates - 28 January 2022

These new rates will help your individual buy to let landlords with single units originated via our commercial portal.

You can product switch your clients up to 3 months before their current mortgage deal comes to an end in 3 simple steps by contacting our Product switch team.  And you’ll receive a 0.30% procuration fee for every switch.

We'll use your client’s original valuation along with their existing balance to confirm their product switch rates. You can see our new buy to let range here

Please note, these rates aren’t available in our product switch portal.

Happy switching.

wWe’ve made some changes to our residential mortgage range - from 19 January 2022

Helping to support your clients, whether they’re looking to get on the property ladder, have complex needs, less than perfect credit, or want to secure a better deal.

Reduced rates on our level 1 products with £999 fee for purchase and remortgage:

  • 2 year fixed 2.78% to 75% LTV
  • 5 year fixed 2.98% to 75% LTV
  • 2 year fixed 3.08% to 80% LTV
  • 5 year fixed 3.28% to 80% LTV

New level 1 products - fee free; no product, valuation, funds transfer fee for purchase and remortgages and free standard legals on remortgages:

  • 2 year fixed 3.08% to 75% LTV
  • 5 year fixed 3.38% to 75% LTV
  • 2 year fixed 3.28% to 80% LTV
  • 5 year fixed 3.58% to 80% LTV

As a result, we're also withdrawing our level 1, fee free remortgage range:

  • 2 year fixed 3.38% to 75% LTV
  • 5 year fixed 3.68% to 75% LTV
  • 2 year fixed 3.58% to 80% LTV
  • 5 year fixed 3.88% to 80% LTV

We’ll process any pipeline applications as usual. If you want to secure one of these products for your client, the latest you can submit a decision in principle (DIP) is 6pm, 18 January 2022. 

DIPs will remain valid for 30 days and this will need to be submitted to full application for a DIP accept within this time. If you need to resubmit a DIP, you'll need to select a new product from the range that's available at the time of submission.

wAldermore Managed Rate Change - 12 January 2022

We’ve reviewed the Aldermore Managed Rate (AMR)* following the recent 0.15% increase to the Bank of England Base Rate.
 
From 1  February 2022 we’re increasing AMR to 4.73%, (from 4.58%).
 
The change in AMR means Aldermore's term variable rate mortgages and all reversion rates on fixed rate mortgages will increase by 0.15%.
 
Existing customers
 
We'll be writing to all impacted customers to let them know their new interest rate and monthly payments, which will apply from 1  February 2022. We'll also include some frequently asked questions in the mailing.
 
New and pipeline cases 

From 1 February 2022 all new ESIS and mortgage offers (origination and product switch) will reflect the new AMR.
 
*AMR is Aldermore's standard variable rate for residential and buy to let mortgages.

Please note: Our mortgage guides will be updated on 1  February 2022. 

wBank of England Base Rate increase - 16 December 2021

Following the Bank of England’s decision to increase the Base Rate from 0.10% to 0.25%, we’re currently reviewing our variable rate products. Once a decision is made, we’ll publish details of any changes and notify all customers impacted. 

wWe’ve enhanced our product switch eligibility criteria - 14 December 2021

Great news! We’ve just made it even easier to switch your clients with Aldermore with our latest criteria enhancement. All existing customers can now be considered for a product switch provided their mortgage payments are up to date with us.

Previously, if a customer had missed any mortgage repayments in the last 3 months, or 1 payment in months 4 to 12, they may not have been eligible for a product switch.

Working in partnership with you, this change enables us to support more customers. By giving them the opportunity to choose a new fixed rate product, this achieves a fairer outcome for customers whose circumstances may have been affected over the last 12 months.

Our switch rates are some of the lowest we’ve ever offered for our residential and buy to let customers, and now we’ve made it even easier to switch with us.

You can find our latest rates here.

Residential Owner Occupied and Individual Buy to Let

Company and Complex Buy to Let  

wLimited Edition servicing message - 25 November 2021

We’re experiencing higher than normal demand for our specialist buy to let products, so it might take a little longer for our team to process your enquiry / decision in principle.

Our current SLAs are 3 working days.

wAldermore Mortgages Transition Rate (AMTR) change – 16 November 2021

Following our 3 month review AMTR has been set at 0.15% (increased by 0.05%).

AMTR is the comparable variable rate we transitioned existing customers with mortgage interest rates linked to LIBOR onto in May 2021.

We did this following the Financial Conduct Authority (FCA) announcement that LIBOR will cease at the end of 2021.

We’re writing to all existing customers who are impacted by this rate change to confirm what their new interest rate and monthly payments will be.

The next AMTR review will take place on 15 February 2022.

wWe’re launching two new Limited Edition buy to let mortgage products - 10 November 2021

We’re launching two new Limited Edition buy to let mortgage products from today 10 November 2021

 

Helping your buy to let landlords looking to expand their property portfolio.

 

We’re experiencing higher than normal demand for our specialist buy to let products, so it might take a little longer for our team to process your enquiry / decision in principle.

Our current SLAs are 3 working days.

 

Limited Edition rates with zero product fee for purchase and remortgage:

  • 5 year fixed 2.98% up to 75% LTV
    Multi property for individuals & companies with single residential investment properties
  • 5 year fixed 3.18% up to 75% LTV
    Individuals & companies with single residential investment properties

These products are available in the commercial portal only.

And don't forget, there's assisted legal fees, free valuations and no funds transfer fee on remortgages.

These limited edition products will only be available for a short time - so don't wait!

 

Assisted legal fees for HMOs and Multi Unit Freehold remortgage products

 

Houses of multiple occupation (HMOs) and multi unit freehold mortgage products now come with assisted legal fees on remortgages. 

 

If there's anything else you need to know, your business development manager is on hand to help.

These products are available in the commercial portal only.

wWe’ve withdrawn our residential Limited Edition mortgage rates - 3 November 2021

We were pleased to be able to offer these products for a limited time and thank our valued brokers for their support.

DIPs will remain valid for 30 days and they'll need to be converted to full mortgage application within this time.
If you need to resubmit a DIP, you'll need to select a new product from the range that's available at the time of submission.

wWe’ve returned our capital raising limits back to pre-covid levels today - 21 October 2021

Helping your buy to let landlords looking to grow their portfolio and your residential owner occupied clients looking to release funds.


Capital raising:

  • For buy to let up to 80% LTV for all acceptable purposes
  • For non-property related and property related, including purchases on our residential owner occupied ranges, subject to LTV
  • For business purpose - subject to additional underwriting guidance

We’ll continue to look at each case on an individual basis, so we can make sure we’re
making the right lending decisions for our clients.

We've also changed our minimum income level on 5.5x lending

Our loan to income ratio (LTI) up to 5.5x income for individuals or joint applicants has increased. Applicants must now have a total allowable income of at least £60,000 to access this LTI.

Any DIPs in process will remain at the previous LTI of 5.5x income up to £50,000
for a maximum of 30 days. 

All new DIPs keyed on or after 21 October will revert to the new minimum income level.

Please note: This change isn't reflected in our affordability calculator at the moment.
If you’re looking to key a case between £50k and £60k, on 5.5x LTI, please contact our BDM team on 0333 321 1000 who’ll help you with this.

wWe've changed our minimum income level on 5.5x lending - 21 October 2021

Our loan to income ratio (LTI) up to 5.5x income for individuals or joint applicants has increased. Applicants must now have a total allowable income of at least £60,000 to access this LTI.

Any DIPs in process will remain at the previous LTI of 5.5x income up to £50,000
for a maximum of 30 days. 

All new DIPs keyed on or after 21 October will revert to the new minimum income level.

Please note: This change isn't reflected in our affordability calculator at the moment.
If you’re looking to key a case between £50k and £60k, on 5.5x LTI, please contact our BDM team on 0333 321 1000 who’ll help you with this.

wWe’ve brought back more residential mortgage products - 30 September 2021

We’ve brought back more residential mortgage products - helping you find a mortgage that's right for your client .

We’ve reduced rates across our high LTV range – with £999 product fee

  • 2 year fixed 3.88% to 85% LTV
  • 5 year fixed 4.08% to 85% LTV
  • 2 year fixed 4.48% to 90% LTV
  • 5 year fixed 4.68% to 90% LTV

New high LTV rates – with zero product fee*

  • 2 year fixed 4.18% to 85% LTV
  • 5 year fixed 4.38% to 85% LTV
  • 2 year fixed 4.78% to 90% LTV
  • 5 year fixed 4.98% to 90% LTV
  • 2 year fixed 5.38% to 95% LTV
  • 5 year fixed 5.58% to 95% LTV

We’ve brought back our standard range level 2 and 3 products for applicants with less than perfect credit

Standard level 2 rates – with £999 product fee

  • 2 year fixed 3.68% to 75% LTV
  • 5 year fixed 3.88% to 75% LTV
  • 2 year fixed 3.98% to 80% LTV
  • 5 year fixed 4.18% to 80% LTV

Standard level 2 rates – with zero product fee (remortgage only) *

  • 2 year fixed 3.98% to 75% LTV
  • 5 year fixed 4.28% to 75% LTV
  • 2 year fixed 4.18% to 80% LTV
  • 5 year fixed 4.48% to 80% LTV

Standard level 3 rates – with £999 product fee

  • 2 year fixed 4.18% to 75% LTV
  • 5 year fixed 4.38% to 75% LTV
  • 2 year fixed 4.48% to 80% LTV
  • 5 year fixed 4.68% to 80% LTV

Standard level 3 rates – with zero product fee (remortgage only) *

  • 2 year fixed 4.48% to 75% LTV
  • 5 year fixed 4.78% to 75% LTV
  • 2 year fixed 4.68% to 80% LTV
  • 5 year fixed 4.98% to 80% LTV

*Free valuation incentive applies. Free standard legal fees are available on all remortgages

Help to Buy: equity loan level 2 and 3 range is back, helping even more of your first time buyers

Reduced rates - level 1 with £999 product fee*

  • 2 year fixed 3.78% to 75% LTV
  • 5 year fixed 3.88% to 75% LTV

New rates - level 2 with £999 product fee*

  • 2 year fixed 4.38% to 75% LTV 
  • 5 year fixed 4.48% to 75% LTV

New rates - level 3 with £999 product fee*

  • 2 year fixed 4.88% to 75% LTV
  • 5 year fixed 4.98% to 75% LTV

 *Free valuation

wWe're excited to be back! - 26 August 2021

We've relaunched an extensive range of buy to let and residential owner occupied mortgage products – from 26 August 2021.

Find out more >

wUpcoming changes - 19 August 2021

We wanted to give you the heads-up about some changes coming later this month. We’ve had a limited range in market for a while now and it's time to make some changes.

We’ll be relaunching an extensive range of buy to let and residential owner occupied mortgage products.

Watch this space!

wWe’ve made some changes to our lending criteria approach - 27 July 2021

When it comes to self-employed we understand that some applicants may have seen changes in their income due to Covid-19, some positively and others more negatively.

We reviewed our risk approach during the pandemic and put in place a number of temporary criteria changes to make sure that as a responsible lender we were making the right lending decisions. We’re continually reviewing these changes and wanted to share with you our current approach.

What’s really important to know is that we're very much open for business!

If your applicant’s personal circumstances have changed over the past 18 months our underwriters may need a bit more information. We’re not asking you to submit anything above what’s already detailed in our submission guidelines but to help you understand our approach, here’s what we may ask for:

Applicants who’ve seen no impact

If your self-employed client hasn’t experienced any changes due to the pandemic we’ll consider their latest year’s income, as long as this is sustainable. Our underwriters may ask you for additional documentation to support their application, if for example, they have joint commitments with another party whose employment has been negatively impacted, we may ask for details on this.

Applicants who’ve seen a positive impact

You may find that businesses such as retailers and restaurants who’ve moved to delivery or manufacturers who’ve seen an increase in demand, have all seen a positive increase in income specifically due to the pandemic.

If they’ve taken the opportunity to grow their business and seen higher than usual growth we may want to understand how sustainable their future earnings are. So, we may ask for additional information about their future plans and how sustainable their current income level is.

Applicants who’ve been negatively impacted

For businesses such as retail (non-essential), leisure, hospitality, travel and tourism, who haven’t been able trade due to the pandemic or experienced a reduction in income, we may need to take a closer look at their finances.

Our underwriters may need to understand a little more about their business model, so they can make informed lending decisions and they may ask for additional information. For example, if they’ve debt consolidated, how they’ve built up those debts.

Owner-occupied with 1 year’s trading

We’ll lend to those with 1 year’s accounts who've not been impacted during the pandemic and we’ll consider lending up to 85% LTV (excluding fees) for those who have:

  • Level 1 credit status; and
  • Evidence of previous employment in the same line of work; or
  • If they can demonstrate guaranteed income for the next accounting period

Where 1 year’s accounting information is used, in addition to the tax calculation and tax year overview, we’ll ask for:

  • VAT returns for the two previous quarters - if appropriate
  • Personal and business bank statements for the previous 3 months

Buy to let – 1 year’s trading

1 year’s trading is only available to landlords not using income to support the loan (top slicing) and if they can provide the additional information listed above.

Our lending decisions will still be made on a case by case basis and we’ll consider all self-employed clients who’ve taken government grants and/or bounce back loans.

We hope this helps you better understand our lending approach and if our underwriters do need more evidence to make their lending decisions, they’ll be in touch.

 

wWe’ve reduced our rates and reintroduced new products across our residential mortgage range - 27 May 2021

These products are designed to help support your clients, whether they’re looking to get on the property ladder, have complex needs or want to secure a better deal.

REINTRODUCED: remortgage only products - FREE product, valuation and legal fees

  • 2 year fixed 3.48% to 75% LTV
  • 5 year fixed 3.78% to 75% LTV
  • 2 year fixed 3.68% to 80% LTV
  • 5 year fixed 3.98% to 80% LTV

REDUCED RATES: for purchase and remortgage – with £999 product fee

  • 2 year fixed 3.18% to 75% LTV
  • 5 year fixed 3.38% to 75% LTV
  • 2 year fixed 3.48% to 80% LTV
  • 5 year fixed 3.68% to 80% LTV

 

wNEW email switch alerts - when you've got a client ready to switch! - 12 May 2021

We wanted to let you know about the latest improvement we've made to our product switch process. We've listened to your feedback and value working in close partnership with you to help your clients.

Never miss a switch with our new alerts

To make your day easier we’ll now be contacting you in advance to let you know when you’ve got an existing Aldermore client(s) whose current deal is coming to an end. We'll contact you before we write to your clients, so you can talk them through their options. Keep an eye out for an email from us containing their details. 

So there’s never been a better time to switch your existing Aldermore clients to a new rate.

We’ve some customer eligibility criteria they’ll need to meet, you can find this in the guide below.

Want to know more?

We've included our guides below on what we offer and how you can switch. If there’s anything else we can help with, just get in touch with our Product Switch team on 01625 469 730 or email product.switch@aldermore.co.uk

Owner occupied and residential buy to let  product switch guide (Originated via residential portal)  

Company and individual buy to let (Originated via commercial portal)

wWe’re withdrawing our 95% LTV residential mortgage products - 6 April 2021

We’re withdrawing our 95% LTV residential mortgage products from 6pm today, Tuesday 6 April 2021.

We were pleased to be able to offer these products for a limited period, so we could monitor volumes and any impact to our service levels. We’ll now review the findings and aim to return to 95% LTV lending as soon as possible.

We’ll process any pipeline applications as usual. If you want to secure one of these products for your client, the latest you can submit a decision in principle (DIP) is 6pm Tuesday, 6 April 2021.

DIPs will remain valid for 30 days and this will need to be submitted to full application for a DIP accept within this time. If you need to resubmit a DIP, you'll need to select a new product from the range that's available at the time of submission.

We continue to offer our 85% and 90% LTV product for purchase and remortgage with £999 fee:

  • 90% LTV - 2 year fixed 4.78%
  • 90% LTV - 5 year fixed 4.98%
  • 85% LTV - 2 year fixed 4.08%
  • 85% LTV - 5 year fixed 4.28%

See our full residential mortgage range here.

wWelcome to product switching for company and complex buy to let - 1 April 2021

We’ve launched a new product switch range and simple switching process for your buy to let clients originated via our Commercial Mortgages broker portal.

Helping you to support your company landlord clients and those with more complex buy to let properties when they come to the end of their initial rate.

You’ll have access to great rates and fee free deals for your clients.

You can product switch your clients up to 3 months before their current mortgage deal comes to an end in 3 simple steps by contacting our Product switch team.  Please note, these rates aren’t available in our product switch portal.

We'll also get in touch with your clients when they're eligible to switch, so they can review their choice of rates with you.

Good for your clients:

                            Great rates - a choice of product switch rates. Take a look at our dedicated range.

                            Hassle free - no new credit or affordability checks

                            Fee free - no valuation, solicitor or product fees

                            Early switches - switch up to 3 months before a current deal ends with no early repayment charges to pay

Good for you:

                            Great rewards - 0.30% procuration fee for every switch

                            Straight forward switching – switch existing clients in a three quick and easy steps

Customer eligibility criteria apply. We'll use your client’s original valuation along with their existing balance to confirm their product switch rates.

See our new specialist buy to let range here.

w95% LTV residential mortgages are back – limited time only - 25 March 2021

We’ve launched 95% LTV lending for residential owner-occupied purchases and reduced our rates on 85% and 90% LTV from today, 25 March 2021.

We’re here to support your first time buyers, home movers and self-employed clients looking for a 5% deposit mortgage.

These products are also available on flats (excluding ex local authority) and new build properties, helping even more people buy their dream home.

NEW 95% LTV for purchase only:

  • 2 year fixed 5.08% (£999 fee)
  • 5 year fixed 5.28% (£999 fee)

Please note: This product isn’t part of the government’s mortgage guarantee scheme.

90% LTV for purchase and remortgage:

  • 2 year fixed 4.78% (£999 fee)
  • 5 year fixed 4.98% (£999 fee)

85% LTV for purchase and remortgage:

  • 2 year fixed 4.08% (£999 fee)
  • 5 year fixed 4.28% (£999 fee)

We’re expecting high demand for our 95% LTV products, so we’ll keep them in market for a limited period. We know our turnaround times are important to you, so we’ll monitor any impact on service levels and keep you updated on any changes on our website, helping you manage your clients' expectations.

wWe’ve reduced our product switch rates for residential and buy to let - 16 March 2021

There’s never been a better time to product switch your existing Aldermore clients’ mortgages.

Our new switch rates are some of the lowest we’ve ever offered for our residential and buy to let range, see our full range here.

And we’ve made it even faster and easier with our new 6 step online switching process, watch our step by step guide here.

  • Best rates – our new switch rates are some of the lowest yet for buy to let and residential range (See full range here.)
  • Easiest process – switching takes just six simple steps when you use our online portal
  • NEW Latest valuations – we now use computer-based valuations to confirm LTV
  • Fast comparisons – our rates will be available on all major sourcing systems in the next few days

0.30% procuration fee for you

Plus you still receive a procuration fee of 0.30% for every switch and our team’s here to help whenever you need it.

Clients coming to the end of their current deal?
We’ll write to your clients up to 3 months before their current deal ends so they can get in touch with you. 

Want to know more?

If there’s anything else we can help with, just get in touch with your BDM or click here to find out more.

w Smarter switching is live – 18 February 2021

Great news! We've improved our residential broker portal. It's now quicker and easier for you to product switch your existing owner occupied and individual buy to let clients.

We've made a quick step by step video to help guide you through the process.

Find out more on our dedicated Smarter switching page.

Ready to switch?

Log in to the broker portal to start switching. Or contact the Product Switch team on 01625 469 730*, alternatively email product.switch@aldermore.co.uk.

wLIBOR change – 17 February 2021

Following our 3 month review LIBOR has been set at 0.10% (increased by 0.05%).

We will write to all existing customers impacted to confirm their new interest rate and monthly payment amount.

The next LIBOR review will take place on 15 May 2021.

wResidential portal updates - 12 February 2021

 We’re making some important changes to our residential portal, so it won’t be available this weekend between 6pm on Friday 12 February and 10pm  on Sunday 14  February. We apologise for any inconvenience this may cause.

wResidential portal update - 5 February 2021

 We’re making some important changes to our residential portal, so it won’t be available this weekend between 10pm on Friday 5 February and 10pm  on Sunday 7 February. We apologise for any inconvenience this may cause.

wWe’ve changed our pre-FMA application process - 2 February 2021

We’ve made some changes to our residential and commercial mortgage application process.
These changes will help us improve the way we review and process applications, so we can make quicker and better informed decisions for you and your clients.
When you submit a new application, we’ll now ask you to upload the documents we need to the portal at this new pre-full mortgage application (FMA) stage.
It’s really important that nothing is missed, as we won't start assessing your case until we have everything asked for on the checklist.
Applications will stay open for 7 working days, giving you time to upload the documents. If we receive an application without all requested documents or after the 7 day deadline, the case will be closed and you'll need to resubmit the application.
When we have everything we need, the status of your application will change to 'FMA Submitted' and will be in our pipeline to be reviewed by an underwriter.
We'll let you know if there's any further documentation we need once we've reviewed your case.
We can also now give portal access to your admin assistants, to help in uploading documentation. All you need to do is complete our admin request form and send it back to us, we’ll then complete all necessary checks and set up access.

We’ve created a short video to help explain the changes in detail and updated our submission guidelines for residential and buy to let applications.

wWe’ve made changes to our Buy to let mortgage range – 19 January 2021

We're pleased to let you know about the changes we've made to our buy to let mortgage range effective from today.

Launch of 2 year fixed products to 75% LTV - purchase and remortgage (1.50% product fee)*

Single residential investment properties

  • 2 year fixed rate at 3.38% for individual & company landlords 

Multi property applications for single residential investment properties 

  • 2 year fixed rate at 3.18% for individual & company landlords

Reverting to 4.58 % (AMR + 0.00%) at 70% LTV

Reverting to 5.08% (AMR + 0.50%) at 75% LTV

We are also pleased to announce the return of capital raising for further property purchase up to 70% LTV.

Our standard packaging requirements for buy to let business can be found here.

To help speed up your application, be sure to upload the required documents immediately at Pre FMA stage, as failure to do so will result in the case expiring in 7 working days.

*Fee can be added to the loan.

For more information on our full buy to let range click here . We’ve also updated our broker Q&As here.