Aldermore, Britain’s leading challenger bank, is launching its Help to Buy: mortgage guarantee range under the Government’s scheme on Monday 16th December.
Aldermore is making its Help to Buy: mortgage guarantee available on remortgages and not just new purchases.
It will offer 2-year fixed rate mortgages for loans between 85.01% and 95%. Aldermore will be offering two products: a 4.98% fixed rate mortgage up to 90% LTV and a 5.28% fixed rate mortgage up to 95% LTV. There will be a £999 fee on both.
In addition, Aldermore is raising the LTV available from 80 to 85% on some of its mortgage products, which lie outside the Help to Buy: mortgage guarantee scheme.
Charles Haresnape, Managing Director of Residential Mortgages at Aldermore said:
“We are delighted to be launching our Help to Buy: mortgage guarantee products today. We are committed to lending to homeowners in the UK, especially those with small deposits, to get on the housing ladder and those who are unable to access mortgages from traditional high street lenders, despite being creditworthy.
“We are delighted to be offering remortgages under the scheme as well.”