Aldermore reduces LTV rates for owner occupants, HSBC lowers RESI and BTL prices – Mortgage Strategy

Aldermore lowered interest rates on its residential owner occupant range, focusing on higher loan value (LTV) mortgages.

New clients of lenders will see two-year fixed interest rates, up to 95% of LTV, down 0.60%. Interest rates now start at 6.54%, and the product includes zero and £999 fee options and discounted back restore rate.

LTV, which has a three-year fixed interest rate of up to 95%, has dropped by 0.35%, and now starts at 6.59%. These include zero and £999 fee options and discounted restore rate.

With a five-year fixed interest rate, up to 95% of LTVs have been cut into 0.70% and starts at 5.99%. These include a fee option of £0,999 and £1,999.

Meanwhile, existing customers will see fixed-rate products, with LTVs above 80% lowered by up to 0.60% and starting at 6.19%.

“At Aldermore, we are passionate about staying fresh and providing competitive speeds,” said Jon Cooper, director of mortgages at Aldermore.

“We are particularly focused on supporting first-time home buyers and low-deposit home buyers, making home ownership easier to obtain. With these changes in brokers and expert guidance, stepping onto the property ladder becomes more achievable.”

Elsewhere, HSBC (HSBC) has changed its residential and purchase (BTL) mortgage products.

Starting tomorrow, the bank will launch two- and five-year fixed BTL products on 80% LTV in the range of purchases, redemptions and existing customers, which is only available for properties with A, B and C energy performance certificate rated.

For existing residential customers switching, the interest rates for two-year fixed fee savings on 60% LTV and above will be reduced, while the five-year fixed Premier exclusives (60%, 80%, 85% and 90% LTV) will also be reduced.

For residential first-time buyers and household products, two-year annual fixed standard rates will be cut at 60%, 70%, 75%, 80%, 85% and 90% LTV, while five-year high-value mortgage products will be cut at 70% and 75% LTV.

Products in the scope of residential cashback cashback have also been reduced. The two-year fixed standard rates at 60%, 70%, 75%, 80%, 85% and 90% LTV will be trimmed.

The two-year and five-year fixed fee saving rates for international residential homes will also be lowered at 70% and 75% LTV, while the five-year Premier exclusive rate is 70% and the LTV 75% LTV declines.