Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Aldermore Raises Maximum LTV to 98% with New Five-Tier Product Range
Aldermore has announced an increase in its maximum loan-to-value (LTV) ratio to 98% for employed customers. The lender has also introduced a newly-designed product range divided into five tiers to help brokers match clients with suitable deals.
The updated proposition includes enhanced criteria for first-time buyers, self-employed applicants, contractors, customers with complex income, and those with a history of adverse credit. Aldermore will now accept borrowers who have arrears on unsecured credit or utility bills, and the lender's approach is more flexible regarding county court judgments, defaults, and secured credit arrears.
These changes are designed to support a broader range of residential clients, particularly those who may not meet traditional high street lending criteria. The new five-tier cascade range aims to give brokers greater flexibility in finding appropriate lending solutions for clients with diverse financial backgrounds.
Further product enhancements from Aldermore are expected to be announced later in the week.
Source: Mortgage Strategy