The reduction in rates is due to Aldermore Bank resetting its LIBOR down from 1.05% to 0.75%.
David Whittaker, managing director of Mortgages for Business, said: “We are always keen to meet the needs of our customers and we believe this reduction offers a genuine choice to investors and landlords looking for alternatives to fixed rates.
“In particular, applications from limited companies are higher than expected, possibly because we accept trading companies as well as SPVs.”
Rob Lankey, managing director of Commercial Mortgages, at Aldermore, added: “The Keystone Buy to Let Mortgages product range has proven very popular since its launch in April, surpassing all expectations and we believe today’s announcement will help cement its positioning in the buy to let market place.”
Rates for individual applications at 75% LTV:
– 4.98% for standard properties (previously 5.28%)
– 5.08% for multi-unit properties (previously 5.38%)
– 5.18% for HMO properties (previously 5.48%)
Rates for applications made by limited companies at 75% LTV:
– 5.48% for standard properties (previously 5.78%)
– 5.58% for multi-unit properties (previously 5.88%)
– 5.68% for HMO properties (previously 5.98%)