Aldermore moves into Help to Buy: equity loan space

Published on

Aldermore has launched a Help to Buy: equity loan scheme through a group of selected distribution partners.

Under the scheme, Aldermore is offering a two-year fixed rate repayment mortgage at 3.98% with a maximum loan to value (LTV) of 75%.

The mortgage comes with a £999 completion fee and free standard valuation and under the terms of the Government scheme, it can only be used to purchase new build residential properties. It will also be available directly to consumers.

Aldermore is already part of the Help to Buy: mortgage guarantee scheme.

Charles Haresnape (pictured), managing director of mortgages and commercial lending at Aldermore said: “We are delighted to be launching our Help to Buy: equity loan mortgage today. This complements our existing range of Help to Buy: mortgage guarantee products and demonstrates our commitment to supporting first time buyers, home movers and house builders.

“It is essential that the supply of new and affordable housing is increased in Britain to keep pace with demand from the formation of tens of thousands of new households each year. Joining the Help to Buy: equity loan scheme is one of the ways in which we can help support this. I’m confident that this will prove to be successful and we hope to roll the scheme out to additional brokers in due course.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...