Aldermore refreshes buy-to-let range



Aldermore Bank has revised its buy-to-let proposition by introducing new products and cutting rates.

For landlords with single properties there is a 5-year fixed rate at 3.48% to 75% LTV with a 1.50% product fee, following a 0.30% reduction.

To 80% LTV there is a 2-year fix at 3.88%, as well as a 5-year fix at 3.98%, both with a 1.50% product fee.

For limited company landlords with single residential properties there are a numerous options to 75% and 80% LTV, including an 80% LTV 5-year fixed rate at 4.08% with a £1,999 fee, as well as an option at 4.28% with no product fee.

Individual and company landlords with HMOs up to 6 bedrooms, or multi-unit freeholds with up to 6 units, can take advantage of products to 75% LTV, including a 2-year fix at 3.68% and a 5-year fix at 3.78%, both with a 1.50% fee. There is also a 5-year fix at 4.08% with no fee.

The bank offers assisted legal fees, free valuation and no funds transfer fee on remortgages for individual and company landlords with single unit products, alongside free legal fees for individual landlords.

Jon Cooper, head of mortgage distribution, Aldermore, said: “With so many people evolving their working lives away from offices and into their homes, now more than ever we can see the value a robust and high quality private rented sector plays in the UK housing market.

“With the outlook for the economy looking more favourable, due to the success of the vaccination programme and the near ending of social distancing restrictions, now is the time many landlords will be considering their future strategies.

“So we’re delighted to announce a wave of new products and better rates to help those landlords, both big and small, realise those future portfolio goals.

“According to the latest BDRC data, over six in ten landlords intend to fund their next portfolio purchase with a buy to let mortgage, so at Aldermore we work closely with our broker partners to ensure we’re providing products that align with landlords’ needs.

“Our human approach to lending enables us to consider each application on their own merits, even if complicated in nature or a customer has credit blips in the past, which gives us an opportunity to help as many people as we can with their borrowing needs.”

 

 

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