Aldermore has cut reduced rates on its residential mortgage range by up to 0.5 percentage points, with mortgages now available from 2.88%. 

The lender has also improved its offering for landlords who are purchasing or remortgaging single residential units, with five-year fixed rate mortgages now from 2.98%.

New deals include:

Standard residential mortgages range for purchase or remortgage (with product fee of £999)

Two-year fixed rates down by 0.5 percentage points:

• 2.98% up to 75% LTV (reduced from 3.48%)
• 3.28% up to 80% LTV (reduced from 3.78%)

Three-year fixed rates down by 0.4 percentage points:

• 3.08% up to 75% LTV (reduced from 3.48%)
• 3.38% up to 80% LTV (reduced from 3.78%)

Five-year fixed rates down by 0.4 percentage points:

• 3.18% up to 75% LTV (reduced from 3.58%)
• 3.48% up to 80% LTV (reduced from 3.88%)

Term variable rates down by 0.5 percentage points:

• 2.88% up to 75% LTV (reduced from 3.38%)
• 3.18% up to 80% LTV (reduced from 3.68%)

Remortgage-only range (no valuation, legal or product fees. Application fee of £199)

Two-year fixed rates down by 0.5 percentage points:

• 3.28% up to 75% LTV (reduced from 3.78%)
• 3.58% up to 80% LTV (reduced from 4.08%)

Three-year fixed rates down by 0.4 percentage points:

• 3.38% up to 75% LTV (reduced from 3.78%)
• 3.68% up to 80% LTV (reduced from 4.08%)

Help to Buy: equity loan & London Help to Buy: scheme (Purchase only, product fee of £999)

Two-year fixed rate down by 0.1 percentage points:

• 3.88% up to 75% LTV (reduced from 3.98%)

Buy-to-let standard mortgages range for purchase or remortgage (For individual landlords on single residential units)

Five-year fixed rates down by 2%:

• 2.98% up to 75% LTV (reduced from 4.98%, with product fee also reduced from 2.5% to 2%)

Other changes to five-year fixed rates:

• Product fee reduced from 2.5% to 2% on 5.28% up to 80% LTV

Charles McDowell, commercial director of mortgages at Aldermore, said: “Our latest rate reductions offer something for everyone, whether it’s landlords, home movers, existing home owners wanting to remortgage or those looking to get on the property ladder. These reductions reaffirm our commitment to offering a range of mortgage options based on customers’ needs.

“As a result of the strong demand in the remortgage and buy-to let markets, we have looked to cut our rates to help our customers get the best deals possible. Additionally, our latest reductions of up to 0.5% [sic] on residential mortgages comes at a time when the number of home movers has remained stagnant for the last three years. These reductions provide support to customers who are hoping to make a move or take their first step on the property ladder.”