It launches new products and reduces rates
Aldermore has announced updates to its buy-to-let mortgage offerings, revealing the introduction of new limited edition products alongside reductions in rates, available from tomorrow, March 26.
The lender is set to roll out a couple of new BTL products – five-year fixed rate mortgages at up to 65% loan-to-value (LTV), one with a 1.5% fee and another a fee-free option. Both products are available to individual and company landlords, catering to those with either single or multiple residential investment properties.
Aldermore is also adjusting its pricing on an existing five-year fixed rate mortgage at 65% LTV, which carries a 5% fee, by reducing the rate by 0.1%.
Effective immediately, the following rates are available for individual and company landlords with single residential investment properties: a five-year fixed rate at 5.89% with no fee, a five-year fixed rate at 5.59% with a 1.5% fee, and a reduced five-year fixed rate at 4.89% with a 5% fee.
For landlords with multiple residential investment properties, new rates include a five-year fixed rate at 5.79% with no fee, a five-year fixed rate at 5.49% with a 1.5% fee, and a reduced five-year fixed rate at 4.79% with a 5% fee.
Earlier this year, the specialist lending bank also reduced rates on a number of products across both its buy-to-let and residential owner-occupied mortgages.
“At Aldermore, we continually review our mortgage range against the current market environment, and we always seek feedback from brokers on what their clients really need from their lender,” said Jon Cooper (pictured), head of mortgages at Aldermore.
“We’re pleased to introduce our latest wave of limited edition products with this in mind, alongside a couple of targeted rate reductions to help more borrowers find the mortgage that’s right for them.”
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