British challenger bank Aldermore is cutting its mortgage rates on the following products for a limited period:
Residential term variable rate – now 3.98% to 80% LTV, down from 4.28%
Buy-to-let 2 year fixed rate – now 4.98% to 80% LTV (market leading), down from 5.78%.
Buy-to-let term variable – now 4.48% to 75% LTV, down from 4.98%
Family Guarantee Mortgage – 2 & 3 year fixed rates reduced to 5.48% from 95% to 100% LTV, down from 5.98%
Full product information, including a downloadable product guide can be found at: www.aldermore-mortgages.co.uk
Charles Haresnape, Managing Director of Aldermore Residential Mortgages, said:
“We’re delighted to announce these rate reductions at a time when the mortgage market traditionally slows-down over the winter period. These rate cuts will be for a limited period only, so brokers need to submit cases as soon as possible to avoid disappointment.”
Aldermore is one of the participants in the Bank of England’s Funding for Lending scheme. Data published recently confirms that Aldermore is one of the top 5 lenders registered with the scheme, ranked by the amount lent to households and companies in the third quarter of 2012.