Aldermore has launched its lowest ever buy-to-let product at 2.99% up to 75% loan-to-value.
The 5-year fix is available to private individuals looking to either purchase or remortgage a buy-to-let property and comes with a product fee of 1.50% and an application fee of £199.
Charles Haresnape, Aldermore’s group managing director, mortgages, said: “With the average monthly rent for a home in England and Wales rising to an all-time high in July, the buy-to-let sector continues to offer a strong investment opportunity, and is an increasingly important segment of the housing market.
“Our new fixed rate, which is available for both purchase and remortgage, is great for landlords looking to guarantee their mortgage repayments in the long-term, allowing them to better plan their investments.
“Rising house prices have meant there is increasing demand for rental accommodation, and Aldermore is committed to supporting landlords and the vital role they play in the UK’s housing industry.”