Aldermore mortgages are aimed at a wide variety of different consumers, including first time buyers, customers looking to move home, and the self-employed.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Aldermore Bank was founded in 2009 and is therefore a relatively new bank. It is named after the alder tree, which is a hardy species known to thrive in inhospitable locations. Despite the challenging economic conditions prevailing at its inception, within three years the bank was profitable.
To begin with, Aldermore concentrated on invoice financing, savings accounts and asset financing, but by 2010 it had moved into the commercial and residentialmortgage market.
Aldermore Bank promises to judge each mortgage application on its individual merits. Customers who have recently changed jobs or who are self-employed with varied income sources will not automatically be discounted. The bank says they are willing to overlook a few missed payments here and there. They will also consider borrowers who have been refused a mortgage from the main high street lenders despite having a decent credit rating.
Aldermore mortgages are aimed at a wide variety of different consumers, including first time buyers, customers looking to move home, and the self-employed. Aldermore also has special offers for existing customers wishing to move to a better deal.
First time buyers with little or no deposit can apply for a low deposit or no deposit Family Guarantee mortgage. Self-employed customers are also eligible for a mortgage with the Aldermore Bank, but applicants must be able to provide at least two years of certified accounts (or an SA302).
The bank has a separate mortgage department for new and experienced buy to let landlords.
As a general rule, Aldermore mortgages require that the borrower provide a minimum deposit of 20% of the property’s value. However, there may be other options on offer, so it is worth checking the most up to date Aldermore mortgage offers.
Aldermore mortgages are available direct from the bank. Alternatively, you can apply for an Aldermore mortgage via an intermediary such as a mortgage broker.
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