New seven-year commercial deal from Aldermore

New seven-year commercial deal from Aldermore

Aldermore is now offering a new seven-year fixed commercial mortgage product, with rates available on loans up to 75% loan to Value (LTV).

The new product is available for loans between £50,000 and £1 million and provides customers with flexible repayment structures. Bespoke terms are offered for loans over £1 million.

Rates are as follows:

  • 5.54% for loans up to 60% LTV
  • 5.89% for loans with an LTV between 60-70%
  • 5.99% for loans with an LTV between 70-75%.

Aldermore also offers semi-commercial seven year fixed rates from 5.34% and commercial owner-occupied seven year fixed rates from 5.14%.

An arrangement fee of 1.5% is charged on all loans and includes a 0.25% commitment fee payable at offer.

In addition, Aldermore will pay for the cost of search insurance for commercial remortgages up to £1m. the offer is valid until 31 July 2018.

Caroline Luxmore, Aldermore’s head of commercial mortgages, said: “Our new seven year fixed product highlights our continued commitment to offering simple commercial mortgage products with great rates. Investing in commercial properties or owning your own business premises is becoming more popular and we anticipate that this new product will be attractive to customers who are expanding their portfolios.

“We’re delighted to add this longer-term option to our commercial mortgages product suite as we continue to strengthen our market offering throughout 2018.”