Aldermore has brought back products, rate cuts and dropped fees across its residential mortgage range for first-time buyers and homeowners.

The bank has reintroduced its level 2 and 3 mortgage range for customers with “a less than perfect credit” history.

These loans are aimed at applicants with county court judgements or defaults registered over six months, bankruptcy or individual voluntary arrangement discharged for two years, mortgage or secured loan arrears over three months ago, or forced or voluntary possessions older than three years.   

They are available on the lender’s standard range and Help to Buy equity loan offerings.

Highlights of the new house purchase loans include:

At level 2 – two and five-year fixed-rate options from 3.68% with loan to value up to 80%.

At level 3 – two and five-year fixed-rate options from 4.18%, with LTV up to 80%.

Highlights of new Help to Buy equity loan deals include:

At level 2 – two and five-year fixed-rate options from 4.38% with LTV up to 75%.

At level 3 – two and five-year fixed-rate options from 4.88%, with LTV up to 75%.

The bank has also cut rates and re-introduced zero product fees on high LTV offers.

It has cut rates on 85% and 90% LTVs on its £999 fee products, by between 20 and 30 basis points.

And has brought back zero product fees on 85%, 90% and 95% LTVs, with free valuations. As well as free legal costs on remortgages.

Aldermore commercial director of mortgages Jon Cooper says: “Life is a long road with many experiencing bumps along the way, so it’s reasonable to expect some may have had credit blips in the past.

“At Aldermore, we believe that less than perfect credit shouldn’t be a complete barrier to homeownership and people deserve the opportunity to realise their life goal of finding a home.”

In August, the lender brought its 95% LTV range back to the market and launched new purchase and remortgage products.