Aldermore cuts buy-to-let rates
The 4.98% rate will be available up to 80% loan to value with a 4.48% term variable rate up to 75% LTV.
The lender will also be offering a 5-year fixed product at 5.48% up to 80% LTV and 4.98% up to 75% LTV.
Charles Haresnape, managing director of Aldermore Residential Mortgages, said: “These rate reductions, combined with an increase in maximum LTV to 80% on our most popular products, will help landlords expand their portfolios at a time when property rental values are forecast to rise by another 2% during 2013.”
Aldermore has also reduced the term variable rate on its residential range of mortgages to 3.98% from 4.28%.