Aldermore is to launch its Help to Buy mortgage guarantee range under the Government’s scheme on Monday 16 December.

The challenger bank will make Help to Buy guarantee available on remortgages and not just new purchases.

It will offer two-year fixed rate mortgages for loans between 85.01% and 95%.

Charles Haresnape, managing director of residential mortgages at Aldermore, said: “I am delighted to announce Aldermore’s participation in Help to Buy guarantee. 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 the first and only bank in the scheme to offer remortgages so far.”