Aldermore, one of the UK’s leading specialist lenders, has recently announced its re-entry into the home loan market with competitive interest rates up to 75 basis points higher than those of its competitors. This move marks a significant shift in the UK mortgage market, as Aldermore is the first lender to offer such competitive rates since the financial crisis of 2008.
Aldermore’s new home loan product is aimed at borrowers who are looking for a competitive rate but may not have access to the best deals offered by larger lenders. The product offers a fixed rate of 3.99% for two years, and a variable rate of 4.99% for five years. This is significantly higher than the rates offered by other lenders, which are typically around 2.5%.
The move is likely to be welcomed by borrowers who are looking for a competitive rate but may not have access to the best deals offered by larger lenders. Aldermore’s re-entry into the home loan market could also provide much needed competition in the sector, which has been dominated by a few large lenders in recent years.
In addition to offering competitive rates, Aldermore is also offering a range of features to make it easier for borrowers to manage their mortgage. These include an online application process, flexible repayment options, and a dedicated customer service team.
Aldermore’s re-entry into the home loan market is an exciting development for borrowers who are looking for a competitive rate but may not have access to the best deals offered by larger lenders. With its competitive rates and range of features, Aldermore could provide much needed competition in the sector and help borrowers get the best deal possible.