Aldermore mortgages review

Aldermore lender profile

• Aldermore is a retail bank offering specialist mortgages for residential, buy-to-let and commercial properties.
• It offers financial products and solutions for homeowners, landlords, savers and SMEs.

What types of mortgages does Aldermore offer?

• Fixed rate. A fixed-rate mortgage provides certainty by locking your interest rate for a set amount of time. After the fixed-rate period ends, your rate switches to the standard-variable rate.
• Remortgages. You can switch from your existing mortgage provider and pay off the remainder of your balance to Aldermore using one of its remortgage products.
• Variable rate. With a variable-rate mortgage, your interest rate may fluctuate based on economic conditions.
• Tracker. With tracker mortgages, the interest rate follows another publicly available interest rate, typically the Bank of England base rate.
• Buy-to-let. A buy-to-let mortgage is needed if you want to buy a second property to let out.

We've teamed up with L&C Mortgages to help you compare live rates from over 80 lenders.

How to apply

You can apply by calling 0333 321 1000 or request a call back via Alermore’s website. It’s also possible to apply for an Aldermore mortgage via a mortgage broker.

What information is needed to apply?

When applying for an Aldermore mortgage, you’ll need your personal details and information about your employment to hand. Expect to be asked for previous bank statements and proof of income.

Eligibility criteria

Aldermore lends to applicants between 21 and 75 years old in England, Scotland and Wales. In 2019, it increased its maximum income-to-loan ratio to 5.5. It has mortgages especially designed for low-income applicants and those hoping to borrow into retirement.

Contact information

New customers can make enquiries by calling 0333 321 1000 or emailing mortgage.advisers@aldermore.co.uk.

Customer reviews

Aldermore Bank has a “Excellent” rating on Trustpilot with a score of 4.6 (updated May 2024). Customers praised Aldermore’s competitive interest and mortgage rates.

Frequently asked questions

• Can I make overpayments?

  Aldermore allows unlimited overpayments on its mortgages. However, if you overpay by more than 10% per year on its fixed-rate mortgages, you’ll face an early repayment charge.

• How long do I have to wait to hear a decision?

  You can expect a decision on your mortgage application within 24 hours.

Written by

Matthew Boyle

Publisher

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise

Matthew has written 281 Finder guides across topics including:

• Helping first-time buyers apply for a mortgage
• Comparing bank accounts and highlighting useful features
• Publishing easy-to-understand guides