The bank is also cutting rates across its mortgage range, reducing high loan-to-value (LTV) fixed rate mortgages for owner-occupiers by up to 0.35% and five-year fixed rates by 0.10% for BTL.

Further reductions are also available on the product switch range for existing owner-occupied and BTL customers.

In addition, Aldermore’s standard level two fee-free products for owner-occupiers, which were previously only for remortgages, are now available for purchases and remortgages.

Highlights of the reductions include a 0.25% cut on two and five-year fixes, up to 85% LTV. This takes the new rate to 6.09% for both. Loans of up to 90% LTV have been reduced by 0.35% to a new rate of 6.39%. These products all come with a £999 fee plus free valuation.

Products with zero fees have also been reduced by 0.25% or 0.35% depending on the LTV.

All five-year fixed BTL rates have been cut 0.10% at 75% LTV.

New rates are also available for BTL for individual and company landlords with single residential investment properties and for those with multiple properties.

Aldermore head of mortgages Jon Cooper comments: “The homebuying process is costly and fees can quickly accumulate, which is why we’re delighted to offer free valuations for both owner-occupier and single residential BTL applications.

“We’re also pleased to reduce rates across our mortgage range, giving customers more affordable options and even more choice to support their homebuying goals.”