For a limited time only an alternative lender has reduced its mortgages rates on both its residential and buy-to-let products after being named as one of the top five lenders registered with the Government’s Funding for Lending Scheme. 

British challenger bank Aldermore has made the following cuts to its products:

Residential term variable rate - now 3.98 per cent to 80 per cent LTV, down from 4.28 per cent

Buy-to-let two year fixed rate – now 4.98 per cent to 80 per cent LTV (market leading), down from 5.78 per cent 

Buy-to-let term variable – now 4.48 per cent to 75 per cent LTV, down from 4.98 per cent

Family Guarantee Mortgage – Two and three year fixed rates reduced to 5.48 per cent from 95 per cent to 100 per cent LTV, down from 5.98 per cent

Full product information, including a downloadable product guide, can be found at: www.aldermore-mortgages.co.uk 

Charles Haresnape, Managing Director of Aldermore Residential Mortgages, said: “We’re delighted to announce these rate reductions at a time when the mortgage market traditionally slows-down over the winter period. These rate cuts will be for a limited period only, so brokers need to submit cases as soon as possible to avoid disappointment.”

Aldermore is one of the participants in the Bank of England’s Funding for Lending scheme. Data published recently confirms that the bank is one of the top five lenders registered with the scheme, ranked by the amount lent to households and companies in the third quarter of 2012.