Aldermore has reduced the rates on its buy-to-let five-year fixed remortgage products for individual and company landlords.
The new deals are available immediately, with no product or valuation fees.
Individual landlords submitting remortgage applications through Aldermore’s residential portal:
- Five-year fixed rate 75% LTV remortgage reduced by 0.20 percentage points from 4.18% to 3.98%
- Five-year fixed rate 80% LTV remortgage reduced by 0.20 percentage points from 4.78% to 4.58%
Company landlords submitting remortgage applications through Aldermore’s commercial portal:
- Five-year fixed rate 75% LTV remortgage reduced by 0.20 percentage points from 4.18% to 3.98%
- Five-year fixed rate 80% LTV remortgage reduced by 0.20 percentage points from 4.78% to 4.58%
- New Multi Property Limited Edition five-year fixed rate remortgage at 3.78% to 75% LTV and 4.38% to 80% LTV
Aldermore now accept new build flats for investment purposes and it has also reduced the interest cover ratio on the affordability calculation for customers that meet its definition of a basic rate tax payer.
Damian Thompson (pictured), director of mortgages at Aldermore, said: “We are committed to supporting a robust private rented sector that provides quality and choice to tenants across the UK. Landlords, no matter how big or small, play a significant role in today’s housing market so we believe it is our responsibility as a provider to ensure our products meet their needs and help them realise their ambitions.
“At Aldermore, we understand the recent changes to the buy-to-let market have presented new challenges, which is why we are constantly reviewing and improving our proposition to ensure landlords receive the financial support to assist the growth of the sector.”