The three-year fixed rate at 90% and 95% LTV is available at 5.63%, while the five-year fixed rate is available at 5.73% across both 90% and 95% LTV.
These are in addition to Aldermore’s two-year fixed rates which it launched in mid-December under the scheme. All of the Help to Buy products will be subject to a £999 arrangement fee.
Aldermore is one of the few lenders to offer the option to remortgage using Help to Buy, as well as the option to purchase new builds.
Aldermore has also increased its standard range (which lies outside the Help to Buy: mortgage guarantee scheme) to include new fixed and variable rates up to 85% LTV, including on its three and five-year fixed rates, its one and two-year discount rates and its variable term rates.
In addition, the Bank has increased the maximum LTV threshold on its buy to let range from 65% to 70% for loans up to £1million, while the 65% LTV product tier across the entire residential buy to let range has been increased to 70%.
Aldermore Residential Mortgages Managing Director Charles Haresnape says:
“We have extended our Help to Buy: mortgage guarantee range in order to give customers greater choice and in response to customer demand. We have received a high number of enquiries, and we have offered in excess of 1,300 decisions in principle to Help to Buy applicants.
“Interestingly, most of our applicants are coming from northerly regions and are first time buyers, so the scheme is certainly helping to get more people onto the housing ladder.
“We are optimistic that with the increased confidence in the economy, more sellers will come into the market and increase supply in order to keep up with the high demand, which will help to keep house prices on a solid and sustainable upward trajectory.”
