Before making a decision, you should familiarise yourself with exactly what Aldermore have to offer to their mortgage customers.
That way you can make an informed comparison with other lenders and find the right deal for you.
Compare Aldermore mortgages
As well as standard mortgage products for homeowners, Aldermore also offer more specialised mortgages for those with more specific needs.
First Time Buyers
Getting a first mortgage can be difficult, especially when you are struggling to get together a deposit.
Aldermore offer a range of mortgages for first time buyers, including mortgages where you can borrow 100% of the property value, as long as you have a close relative willing to offer collateral on their property. They also support the government’s Help to Buy scheme.
Buy to Let
Aldermore provide mortgages to various different types of landlords, including individual landlords, company landlords and those with complex properties (including HMOs).
Aldermore offer both interest only and capital and interest buy to let mortgages.
Remortgaging with Aldermore
Homeowners looking to remortgage can borrow up to 85% of their property’s value with Aldermore.
Landlords who wish to remortgage a buy to let property can borrow up to 80% of their property’s market value. Aldermore are willing to consider remortgaging requests for a variety of reasons, including saving money, consolidating debts and releasing equity.
Loan to value ratio
With any kind of secured borrowing, the amount you can access will depend on your loan to value (LTV) ratio.
This represents the total value of new and existing debt you wish to leverage against your property relative to the property’s market value.
For example, if you have a current mortgage for £50,000 and wish to borrow an additional £25,000, this gives you a combined total debt of £75,000.
If your property is worth £100,000 this means your debt would be equal to 75% of the value of your property, giving you a loan to value ratio of 75%.
In general, the lower your LTV, the better interest rate you are likely to get on your loan. This is because mortgage providers usually consider loans with a lower LTV to be less risky for them.
Find the best deals on mortgage rates
Getting the best deal on mortgage rates can be a challenge, especially when there are so many different providers and types of mortgage to choose from.
Our mortgage calculator make the whole process much simpler by allowing you to quickly and easily compare different offers from across the market.
All you have to do is put in some basic information, such as how much you want to borrow, how long you want to repay over and why you need the money and we will do the rest. You can find the mortgage calculator at the top of the page.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.
However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.
If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).
If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice.
