You are here: cherry > Press releases for September 2010 > Aldermore launches two year Limited Edition fixed rate mortgages

20 September 2010

Aldermore, the new British bank, has added two new products to its Limited Edition range of residential mortgages: 3.49% two-year fix - available up to 65% loan to value. After two years the rate reverts to Aldermore’s Managed Rate, which is currently 4.98%. 3.99% two-year fix - available up to 75% loan to value. After two years the rate reverts to Aldermore’s Managed Rate + 0.5%. Loans are available up to £600,000 for either house purchase or remortgaging, for employed, self-employed and first time buyers based throughout mainland England and Wales. Both products have a completion fee of £1,999 and early repayment charges are five per cent of the outstanding balance in year one and four per cent in year two. Colin Snowdon, Chief Executive of Aldermore’s residential mortgage lending business, said: “Two year fixes have always been popular and these are very competitive deals, particularly for borrowers applying for larger loans because of the fixed price completion fee. “These deals are ideally suited to borrowers who want to remortgage and lock-in to existing low rates, before they are hit by possible rate increases in 2011. All our remortgage deals come with free legals.” Appointed representatives and directly authorised brokers can access these products, which are being marketed by Aldermore’s distribution partners: 3mc, BDS, Intrinsic, Legal & General, Mortgage Force, Mortgages for Business, Mortgage Intelligence, Mortgage Next, Pink, Personal Touch, Platinum, PMS and Sesame. Brokers must first register on Adermore’s website www.aldermore-mortgages.co.uk where they can also download a product guide featuring all rates, fees and criteria. Further product information is also available by phoning 0333 321 1000 or by e-mailing mortgage.sales@aldermore.co.uk

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