Mortgage News
Aldermore refreshes BTL offering with rates cut
Aldermore has reduced rates on its company buy-to-let (BTL) remortgage and company multi property purchase and remortgage products by 0.3 per cent.
The move is part of the bank’s effort to help landlords who are looking for long-term stability in planning to grow their portfolio, purchase multiple properties or remortgage.
Within its company BTL remortgage range, Aldermore’s 75 per cent loan-to-value (LTV) five-year fixed now has an initial rate of 3.98 per cent while its 80 per cent LTV five-year fixed has a rate of 4.58 per cent.
As for its company BTL multi property purchase and remortgage products, up to 75 per cent LTV five-year fixed has a rate of 3.78 per cent and up to 80 per cent LTV five-year fixed has an initial rate of 4.38 per cent.
Damian Thompson (pictured), director of mortgages at Aldermore, said: “We are pleased to announce our latest commitment to supporting landlord customers, as the private rented sector plays a pivotal role in the UK housing market.
“Buy to let activity has stabilised in recent years as the sector has settled after a number of regulatory changes, and many landlords are now looking at how they can manage their portfolios in the future.”
Aldermore Insights with Jon Cooper: Edition 10 – The biggest barrier to homeownership isn’t affordability. It’s outdated lending.
Sponsored by Aldermore
He added: “According to the latest BDRC data, over seven in 10 landlords intend to fund their next portfolio purchase with a buy-to-let mortgage, so at Aldermore we want to make sure we are providing products that align with landlords’ needs.”