Aldermore has brought back 95 per cent LTV mortgages for a limited time period, although the lender says it wishes to issue them on a permanent basis “in the near future”.
The high-LTV products are purchase only and available on a two-year fix at 5.08 per cent and a five-year fix at 5.28 per cent.
Both come with a £999 fee.
Aldermore has also made cuts across its 85 per cent LTV and 90 per cent LTV range.
At 85 per cent LTV for purchase and remortgage, the two-year fix has gone from 4.38 per cent to 4.08 per cent and the five-year fix from 4.58 per cent to 4.28 per cent.
And at 90 per cent LTV for purchase and remortgage, the two-year fix has been reduced from 5.28 per cent to 4.78 per cent and the five-year fix from 5.38 per cent to 4.98 per cent.
These products also charge a £999 fee.
Aldermore head of mortgage distribution Jon Cooper comments: “We’re delighted to be one of the first lenders to reintroduce our 95 per cent LTV proposition to meet the strong demand from first-time buyers right now.
“Lockdown has given many people the chance to focus on their long term goals and, with three fifths of FTBs saying they are now more motivated to buy, we want to provide greater choice and opportunity to help new buyers realise their dreams of becoming homeowners.”
Aldermore joins Accord, the Bank of Ireland and Skipton in bringing high-LTV lending back to the market.
Original Article from 25/03/2021