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Aldermore launches multi-property buy-to-let remortgage

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  • 23/08/2018
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Aldermore launches multi-property buy-to-let remortgage
Aldermore has launched a buy-to-let multi-property remortgage product for individual landlords with single residential units.

 

The product is available to customers with an existing Aldermore mortgage, new customers submitting a second or subsequent remortgage application or submitting multiple applications at the same time.

The limited edition five-year fixed rate is available immediately at 3.48% up to 75% loan-to-value (LTV) and 3.78% at 80% LTV with no valuation or product fee and free standard legal fees.

Damian Thompson, director of mortgages at Aldermore (pictured), said the product aimed at providing further support to landlords looking to remortgage one or multiple properties at the same time.

He added: “The buy-to-let market has experienced vast amounts of change over the past two years, due to a multitude of regulatory, underwriting and tax changes. Our recent research shows that individual landlords are feeling the force of these changes, as they are less optimistic than portfolio landlords, about the opportunity the buy to let market currently offers.

“Over two fifths of portfolio landlords aim to expand their portfolios over the next 12 months, whereas just over one in ten individual landlords plan to purchase more properties.

“With this in mind, we recognise the challenges individual landlords are facing, so we continue to review our products in order to provide landlords with the support they need.”

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