Aldermore launches a refreshed commercial investment and commercial owner-occupied range of mortgages, while Leeds Building Society brings two new fixed rate residential mortgage deals to the market.
Aldermore’s new range of commercial investment and commercial owner-occupied mortgages offers borrowers a choice of variable and fixed rate mortgages up to 75% loan-to-value (LTV), which are available for loans up to £1m.
Aldermore’s variable rate mortgages have been revised and now start from 4.95%. A new 70% LTV tier has also been added to the range.
The lender has also reduced its commitment fee from 0.50% to 0.25%, while the 1.75% arrangement fee remains the same.
As for Aldermore’s fixed rate mortgages, these now start from 4.69% for a three-year fixed rate deal and from 4.79% for a five-year fixed.
Reviewing the new range, Charles McDowell, Commercial Director, Mortgages at Aldermore, said:
“… our new products offer commercial borrowers the option to choose the security of fixed payments for three or five years at limited additional cost. In addition, Aldermore’s human approach, with each application assessed by an individual underwriter, gives businesses the flexibility to shape a deal in the best possible way for their future, and our new products reaffirm our commitment to supporting SMEs.”
The building society has launched two new mortgage offers. The first has a rate of 2.05%(4.9% APRC) up to 65% LTV, while the second is advertised at 2.15%(5.0% APRC) up to 75% LTV. Both are fixed for two years.
The deals come with a free valuation and a fee of £199. Fees-assisted legal services are also available for standard remortgages.
Jaedon Green, Leeds Building Society’s director of product and distribution said:
“We try to offer a range of fee and incentive combinations across our mortgage range and we know cashback deals can give borrowers a little extra flexibility at a time when this is most useful.
“In addition, the incentives help to minimise costs, for remortgage in particular, so may appeal to existing homeowners who’ve built up more equity and want to switch to a better deal which could bring down their monthly repayments.”
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