(1) Aldermore Managed Rate will increase from 4.73% to 4.98%
In line with the recent Bank of England Base Rate change (0.25% to 0.50%), the Aldermore Managed Rate (AMR) will be increased by 0.25%; from 4.73% to 4.98% for new (including pipeline) and existing mortgage customers on 1 December.
The AMR is Aldermore's standard variable rate for residential mortgages and buy-to-let for individuals. The change in AMR will mean that, across these product ranges, Aldermore's Term Variable rate mortgages will increase by 0.25% and all reversion rates on fixed rate mortgages will increase by 0.25% (from 1 December).
Initial fixed rates will remain unchanged and we will send updated product guides in advance of the AMR change.
Existing Aldermore customers
We will be writing to all existing Aldermore mortgage customers affected by the change, to let them know their new interest rate and monthly payments effective from 1 December 2017.
If you have any queries, please contact your Business Development Manager or call 0333 321 1000.
(2) Autumn Special – Limited edition remortgage only rates for individual landlords available now
We've launched a new limited edition range of remortgage only products for individual landlords with rates from 3.48% (single residential investment properties only).
Help your clients get more from their current Buy-to-Let mortgage with our new range of limited edition remortgage only products with no valuation, legal or product fees.
Ideal for Individual landlord clients looking to capital raise or sat on their current lender’s SVR.
• 5 year fixed rate up to 75% LTV 3.48%
• 5 year fixed rate up to 80% LTV 4.38%
Our Autumn Special is available for a limited time only.
For full details of our new limited edition remortgage only range for individuals please see our product guide which has all the information you'll need for our all Buy-to-Let remortgage rates.
(3) Online Portal changes
We've recently made some key changes to our Residential online portal, including updates in order to comply with the new Buy-to-Let underwriting standards:
View our short user guide, which highlights the changes we’ve made.
Hints and tips (included within the new guide)
• Income - how to key income from land and property for individual or company landlords
• Buy to let portfolio - if your client owns existing residential investment properties, please tick yes to the question and ensure you enter full details of the current portfolio when keying the DIP.
• Portfolio schedule - Please ensure your client(s) Buy-to-Let Portfolio Schedule is uploaded when the application is fully submitted.
• Copy to new DIP - we recommend that due to the new portal fields and recent updates that all cases are keyed from new, to ensure the latest information is available for a quick decision from our underwriters.
How to get in touch
If you have any queries when completing a new application please call 0333 321 1000 or contact your Business Development Manager