Aldermore has unveiled a new scheme which requires borrowers to raise only a 5% cash deposit.
The scheme, which is initially being marketed via Barratt Homes (including David Wilson Homes and Ward Homes), combines an Aldermore 80% LTV two-year fixed rate mortgage with up to a 15% LTV unsecured loan provided by Hitachi Capital (UK) PLC to cover part of the required deposit. House buyers therefore only have to raise a 5% cash deposit of their own.
Charles Haresnape, managing director of Aldermore Residential Mortgages, said: “We are committed to helping struggling home-buyers find solutions to problems which continue to prevent them from owning property of their own.
