Mortgage News
Aldermore introduces five-year fixed BTL remortgage
Aldermore has launched a five-year fixed remortgage product for individual and company landlords with single residential investment properties.
The lender said the move was to help landlords looking for long-term stability when managing their portfolios.
The 75 per cent loan-to-value (LTV), five-year fixed product has an initial rate of 3.68 per cent and comes with a product fee of £1,999.
The offering has no limits on background portfolio and allows for multiple securities to be processed on one application.
Damian Thompson (pictured), director of mortgages, Aldermore said: “According to the latest BDRC data, nearly one third of landlords intend to remortgage within the next year, so at Aldermore we want to make sure we are providing products that align with landlords’ needs.
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“The period of regulatory change in the sector has settled down now, so it is a good time for landlords to review their portfolios and look at how they want to manage them in the future.”