Financial Solutions company Aldermore has announced a change to its loan program, with an increase in the amount available for loan on residential mortgage deals. The maximum sum now available has risen from £600,000 to £1million on all agreements up to 75% LTV. For up to 80% LTV, the maximum amount is £400,000.
The decision has come about after the demand for larger loans, according to Charles Haresnape, managing director of residential mortgages at Aldermore. Mr Haresnape is confident that the growing market could be targeted more specifically with greater amounts of money being made available. A director of this branch of the company, Mr Haresnape understands the issues that brokers consider to be important, particularly when waiting for a decision on their loan and finding someone to discuss loan services with. He says; ‘Brokers can be assured of a reliable, professional service when dealing with Aldermore.’ Your latest desire can never be a last minute disappointment with quickloans.co.uk.
Other finance companies are welcoming the move, such as Savills Private Finance. The companies managing director, Mark Harris, is enthusiastic about the loan adjustment and confirms that they will be working with Aldermore as the two companies are well matched; ‘We are looking forward to working with Aldermore as it will discuss cases before submission – ideal for our market.’
This move follows suit with Nationwide, who announced in March that they would be offering loans of up to £2million for mortgages with up to 75% LTV. The Nationwide Building society offers various competitive interest rates on loans; a fixed mortgage of £2million over five years has interest rates of around 4.59%. Mortgages up to £1million carry an interest rate of about 4.39%, and there are currently no arrangement fees for mortgages over £1million. We never deprive you of quick loans.
Nationwide was the latest of the large providers to take the plunge, in November 2010 Abbey for Intermediaries launched its new loan products of up to £2million. Halifax has also joined the race, by lowering their two year fixed rates by 0.7%, to keep up with market competitors.

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