Aldermore
Specialist LenderAldermore is a specialist bank offering residential, buy-to-let, commercial, and development finance to underserved segments of the UK mortgage market. They provide a comprehensive range of products for borrowers and landlords who may not meet high-street bank criteria.
About Aldermore
Aldermore was founded in 2009 in the aftermath of the financial crisis, with a mission to serve customers overlooked by the high-street banks. The bank was established to provide a more personal, flexible approach to lending, focusing on borrowers with complex income or property finance needs.
The bank gained its full UK banking licence in 2012 and has since grown into one of the UK's leading specialist lenders. In 2018, Aldermore became part of FirstRand Group, a major South African financial services group, which has provided additional capital and stability while allowing Aldermore to retain its specialist focus and intermediary-led distribution model.
Aldermore's lending philosophy centres on relationship-based underwriting. Rather than relying solely on automated credit scoring, their teams assess each application on its merits, which has made them a popular choice for self-employed borrowers, contractors, and professional landlords who may not fit standard high-street criteria. The bank operates exclusively through mortgage brokers and intermediaries, ensuring borrowers receive advice tailored to their circumstances.
Today, Aldermore offers residential mortgages, buy-to-let products, commercial mortgages, and development finance under one roof. Their professional landlord and development finance teams are particularly well regarded among brokers for competitive rates and pragmatic decision-making.
Lending Focus
Aldermore offers mortgage products across 4 categories including Residential, Buy-to-Let, Commercial and 1 more.
Key Features
- Residential mortgages for self-employed and contract workers
- Professional landlord buy-to-let products
- Commercial mortgage and development finance
- Strong intermediary relationships with fast service
- Flexible underwriting for complex income cases
Pros & Cons
Pros
- Full banking licence offering a wide range of property finance
- Strong reputation among intermediaries for reliable service
- Covers residential, BTL, commercial, and development finance
- Flexible underwriting for self-employed and contract workers
Cons
- –Broker-only — cannot apply direct
- –Does not accept adverse credit cases
- –Rates can be higher than mainstream banks for similar LTVs
Fees & Charges
- Arrangement Fee
- Typically £999 — may vary by product
- Valuation Fee
- Based on property value — usually £250–£1,500
- Early Repayment Charge
- Typically 2–5% during fixed-rate period
- Overpayment Allowance
- Up to 10% per year on most products
Mortgage Rates
Rate data coming soon. View rates on Aldermore
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks from application to offer
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months
Lending Criteria
- Maximum LTV
- 85%
Frequently Asked Questions
Is Aldermore a real bank?
Yes, Aldermore is a fully authorised UK bank regulated by the PRA and FCA. They hold a full banking licence and also offer savings accounts.
Does Aldermore offer mortgages for self-employed borrowers?
Yes, Aldermore is well known for its flexible income assessment for self-employed borrowers and contractors, often accepting one to two years of accounts.
Can I get a commercial mortgage from Aldermore?
Yes, Aldermore offers commercial mortgages and development finance alongside their residential and buy-to-let products. Applications are through brokers only.
What is the maximum LTV at Aldermore?
Aldermore offers up to 85% LTV on residential products, with lower LTVs for BTL and commercial lending.
How to Apply
Broker only. Aldermore products are available through mortgage brokers. Find a broker with Aldermore on their panel.
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Together Money | Residential, Buy-to-Let, Commercial+3 | Specialist | 80% |
| Paragon Bank | Buy-to-Let, Commercial, Development+2 | Specialist | 80% |
| Shawbrook Bank | Buy-to-Let, Commercial, Bridging+2 | Specialist | 75% |
| Hampshire Trust Bank | Buy-to-Let, Commercial, Bridging+1 | Specialist | 80% |
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