Aldermore refreshes buy-to-let offering

John Hewitt Jones

September 30, 2016

charles haresnape

Aldermore has relaunched its range of buy-to-let mortgages.

The new products include a 5-year fix for customers seeking mortgages on single residential units.

New 5-year rates range from 2.79% up to 70% LTV and 3.25% up to 80% LTV. A product fee of 1.5% and application fee of £299 accompanies the loans.

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Aldermore has also launched a product fee-free variable rate mortgage, available at 3.68% up to 75% LTV. The product is accompanied by an application fee of £199.

Charles Haresnape, Aldermore group managing director, mortgages, said: “The change in the base rate has led to the average 5-year fixed rate for a 75% loan-to-value buy-to-let mortgage falling below 4% for the first time, and now is a great time for landlords to remortgage some or all of their portfolios.

“Buy-to-let as an investment continues to be underpinned by strong fundamentals, with tenants who signed up to a new tenancy during the month of August agreeing to an average rental increase of 3.1% year on year. Aldermore looks to support landlords wherever possible, and our recent product changes are a testament to our commitment to those in the buy-to-let market.”