Aldermore bank has announced a reduction on rates across a range of its products for a limited period.
The British challenger bank will reduce its residential term variable rate on 80 per cent loan-to-value to 3.98 per cent from 4.28 per cent.
The buy-to-let two-year fixed rate product will come down to 4.98 per cent from 5.78 per cent on 80 per cent LTV.
On the buy-to-let variable 75 per cent LTV the rate will come down to 4.48 per cent from 4.98 per cent, while the family guarantee mortgage – two and three year fixed rate products-will drop to 5.48 per cent from 5.98 per cent, on 95 per cent to 100 per cent LTV.
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.
