Compare Aldermore Mortgage Rates & Fees
Aldermore offer a personal service to help you find the right mortgage deal for you.
Aldermore Bank is a retail bank, established in 2009, that provides financial services to small- and medium-sized businesses and is recognised as one of Britain’s leading alternative banks. The company considers all applications according to the judgement of its dedicated underwriters, rather than an automatic system.
Compare Aldermore Bank mortgages
If you borrow £170,000 over a 25-year term at 1.65% p.a. (fixed) for 62 months reverting to 3.59% p.a. (variable) for the remaining term, you would make 62 monthly payments of £691.94 and 238 monthly payments of £825.30. The total payable would be £240,614.68, which includes interest of £ 69,322, valuation fees of £248 and a product fee of £995. The overall cost for comparison is 2.9% APRC representative.
Aldermore lender profile
- Aldermore is a retail bank offering specialist mortgages for residential, buy-to-let and commercial properties.
- They offer financial products and solutions for homeowners, landlords, savers and SMEs.
- Fixed rate
- Variable rate
- Buy to let
What types of mortgages does Aldermore offer?
A fixed-rate mortgage provides certainty by locking your interest rate for a set amount of time. After the fixed-rate period ends, your rate switches to the standard-variable rate.
You can switch from your existing mortgage provider and pay off the remainder of your balance to Aldermore using one of its remortgage products.
With a variable-rate mortgage, your interest rate may fluctuate based on economic conditions.
With tracker mortgages, the interest rate follows another publicly available interest rate, typically the Bank of England base rate.
A buy-to-let mortgage is needed if you want to buy a second property to let out.
How to apply
You can apply by calling 0330 127 8346 or request a call back via Alermore’s website. It’s also possible to apply for an Aldermore mortgage via a mortgage broker.
What information is needed to apply?
When applying for an Aldermore mortgage, you’ll need your personal details and information about your employment to hand. Expect to be asked for previous bank statements and proof of income.
Aldermore lends to applicants between 21 and 75 years old in England, Scotland and Wales. In 2019, it increased its maximum income-to-loan ratio to 5.5. It has mortgages especially designed for low-income applicants and those hoping to borrow into retirement.
New customers can make enquiries by calling 0370 218 4101 or emailing email@example.com.
Can I make overpayments?
Aldermore allows unlimited overpayments on its mortgages. However, if you overpay by more than 10% per year on its fixed-rate mortgages, you’ll face an early repayment charge.
How long do I have to wait to hear a decision?
You can expect a decision on your mortgage application within 24 hours.
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