Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Aldermore Launches Five-Tier Residential Lending Proposition
Aldermore will introduce a new five-tier residential lending proposition this week, designed to help brokers place customers who do not meet mainstream lending criteria. The new structure will go live on 29 July 2026.
According to Aldermore, the five-tier approach is intended to broaden support for first-time buyers, self-employed applicants, company directors, contractors, and borrowers with complex income or adverse credit histories. The lender is increasing its maximum loan-to-value (LTV) limit to 98% for employed customers.
Aldermore is also expanding its acceptance of unsecured credit and utility bill arrears. Additionally, the lender has increased its tolerance for county court judgments (CCJs) and defaults, and introduced more flexibility around secured credit arrears.
The lender stated that the five-tier structure will allow it to assess a wider range of customer circumstances and help brokers identify the most suitable lending solution for individual borrowers.
These changes may be relevant to letting agents and inventory clerks, as they could impact the pool of potential tenants and buyers, particularly those with non-traditional financial backgrounds or credit histories.
Further product enhancements from Aldermore are expected to be announced later this week.
Source: Mortgage Solutions