Aldermore alters buy-to-let offering

John Hewitt Jones

August 18, 2016

charles haresnape

Aldermore has made changes its standard buy-to-let product range.

New rates are available for loans from £25,000 up to £1m on Aldermore’s five-year fixed rate range, available to individuals applying for buy-to-let mortgages on single residential units.

The changes will see 3.18% to 70% for loans up to £1m, and between 3.25% and 75% for loans up to £600,000.

Aldermore launches its lowest ever buy-to-let product

The products are available on purchases and remortgages for private individuals, with a product fee of 1.5% and application of £199 applicable.

Charles Haresnape (pictured), Aldermore’s group managing director, mortgages, said: “In spite of a number of changes across the industry, we continue to see strong growth in the buy-to-let sector. The rush to beat the stamp duty deadline meant that there were 8% more new properties advertised to rent in the second quarter of this year when compared to the year earlier, and the underlying fundamentals of the buy-to-let market remain strong.

“As a specialist lender, we understand the needs of our customers. Through the changes we’ve made today we will continue to support landlords by updating our product range to suit them.”