Aldermore has introduced a new limited edition buy-to let remortgage product, which is its lowest ever five-year fixed rate.
Five-year fixed rates are available from 3.99% up to 80% LTV, with the rental calculation based on the product pay rate.
Reversion rates have been reduced by 1% and free legal fees are available on the Aldermore Standard buy-to-let range to cover the costs of the legal work necessary to move the mortgage to Aldermore, along with any disbursements.
This new product is available to new business applications across Aldermore’s Standard and Specialist Buy-to-let ranges and carries a 1.50% completion fee.
This remortgage option also supports Aldermore’s no portfolio limits policy and flexibility around capital raising for further purchases, ideal for those landlords looking to expand their portfolio, it claimed.
Charles Haresnape, group managing director of mortgages at Aldermore, said: “With a buoyant market, and rate rises expected in the not too distant future, there has never been a better time to take advantage of historic low interest rates, and our new limited edition offering is available on a first come first served basis.
“With a high level of consumer demand Aldermore always looks for ways to support its customers and we’re pleased to be able to launch our lowest ever five-year fixed rate buy-to-let mortgage product.”