Aldermore changes buy-to-let and residential propositions

Michael Lloyd

October 15, 2018

Specialist bank Aldermore has updated its proposition for residential and buy-to-let mortgages.

For buy-to-let it has lowered its ICRs for basic rate tax payers. For new build flats Aldermore will lend at 70% LTV for first-time landlords and 75% for existing landlords.

And for both buy-to-let and residential Aldermore has reduced the minimum valuation on ex-public sector property outside of greater London and has increased the maximum property land size from three to six acres.

Damian Thompson, director of mortgages, Aldermore, said: “We are pleased to announce the latest updates to our proposition for residential and buy-to-let mortgages.

“The latest changes come at a time when it is vital to provide support in a challenging housing market – whether they are a first time buyer with little or no deposit or a landlord looking to invest in a new property or remortgage an existing one.

“At Aldermore, our human approach to lending enables us to consider each case on an individual basis so we can support a range of home buyers. We pride ourselves on supporting individuals’ needs and aspirations and we are constantly looking to improve our proposition to do so.”

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