New remortgage deals from 2.38% at Aldermore

2nd October 2017

Aldermore has added new remortgage and purchase-only mortgage products to its range, with rates starting from 2.38%.

By lowering its remortgage rates at a time when many homeowners are stuck on standard variable rates (SVRs), the bank aims to help customers who could save on their monthly payments or who are unable to switch to a better deal with their current lender. In addition, those who are self-employed with as little as one year of accounts could benefit from Aldermore’s individual underwriting approach, whether they are looking to remortgage or purchase a new property.

The new deals include a two-year fixed-rate remortgage-only deal at 2.38% up to 75% loan-to-value (LTV) with no upfront fees, a reduction of 0.10%; and a two-year fixed-rate remortgage-only deal at 2.68% up to 80% LTV with no upfront fees, also a reduction of 0.10%.

Charles McDowell, commercial director, mortgages, says: “In an environment of consistently low interest rates, it’s tempting for homeowners to relax and go with the flow, when it comes to their mortgage. But if they’re on their lender’s standard variable rate, it’s likely they could get a better deal elsewhere and save money on their monthly payments, or pay off their mortgage quicker.

“The opportunity to remortgage could also offer customers the chance to free up some cash, giving borrowers, in particular the self-employed, more flexibility.”

*2 year fixed with TSB 1.09% then 3.59% - APRC is 3.3% Max LTV is 60%. Quoted on 27th May 2020.