Remortgaging from fixed rate with adverse lender with less income and more dependants!

getmore4less

What rate are Aldermore offering these days.

We have around £175k left to pay of the mortgage
-Bought our house for £205k but current rough estimate value is £322k which gives us a much better LTV (not sure how important that is)

55% LTV.

looks like they have a product switch rate around 2.5%(60% LTV)  if you qualify under their criteria. 

They say you can switch 3month early no ERC so expect contact around August.

https://www.aldermore.co.uk/mortgages/customer-support/switch-your-mortgage/
https://www.aldermore.co.uk/media/5195/product-switch-guide.pdf

A lot can change in 5-6 months but if you have a clean record with them change it won't be a disaster.

onthemend88

Are you entitled to Universal Credit and Child Benefit? I am just wondering if there will be lenders that take this into consideration to bump up your affordability. 

dimbo61

https://www.aldermore.co.uk/about-us/newsroom/2021/03/aldermore-reduces-product-switch-rates-for-existing-residential-owner-occupied-and-buy-to-let-customers/

Check out the current deals available to existing customers 

https://amortgagenow.co.uk/aldermore-mortgage-customers-loyalty-rates/

2.5% fixed for 5 years with No Fee at 65% LTV 
2.6% fixed for 5 years with No Fee at 75% LTV