News
Aldermore adds BTL limited-edition deals; Landbay lowers rates – round-up
Aldermore has brought out buy-to-let (BTL) limited-edition options for landlords, with pricing beginning from 4.99%.
Aldermore’s BTL limited editions are available for new customers from 23 July.
For individual and company landlords with single residential investment properties, a two-year fixed rate with a 3% fee at 75% loan to value (LTV) is priced at 5.09%.
Regarding multi-property products for individual and company landlords with residential investment property portfolios, the two-year fixed rate at 75% LTV is 4.99%.
Mark Gordon, director of mortgages at Aldermore, said: “At Aldermore, we’re constantly reviewing our product range to ensure we reflect and meet borrowers’ needs. We’re pleased to introduce our latest wave of buy-to-let limited-edition products, to back more landlords to go for it in life and in business.”
The lender also brought out select limited-edition BTL deals last week.
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Landbay cuts BTL rates
Landbay has lowered rates across its BTL range by as much 0.25%, with changes made to two- and five-year fixed rates.
The firm has lowered its five-year fixed rate standard deals and two-year standard and two-year like-for-like remortgage deals by up to 0.25%.
The lender’s two-year small houses in multiple occupation (HMOs) and multi-unit freehold block (MUFB) products have been cut by up to 0.1%.
Standard two-year fixed BTL rates up to 75% LTV start from 4.04%, while standard like-for-like two-year fixed rates up to 75% LTV are priced from 4.64%.
Standard five-year fixed BTL rates up to 75% LTV have rates from 4.69%.
Rob Stanton, sales and distribution director Landbay, said: “We are really pleased to be able to make some sizeable reductions across our product range. Being a tech-centred lender enables us to be really agile and respond to both changes and new demands in the market very quickly. This allows us to best support our broker clients and provide them with a range of products that is not just competitive, but wide enough to meet a broad range of needs.
“It’s fantastic to be able to strengthen our like-for-like remortgage range even further, providing a valuable option for those landlords with no changes to their current borrowing requirements. That’s especially true given its lower stress requirements of just pay rate. It’s great for those who want a short-term option in the current market, but still want some stability and security on monthly cost.”