Aldermore updates BTL mortgage offering

For individual landlords with single residential properties, the bank has added a two-year fixed rate product up to 80 per cent loan to value (LTV) with a rate of 3.88 per cent. For a five-year fix, this product has a rate of 3.98 per cent.  

Up to 75 per cent LTV, the five-year fixed deal has been reduced by 0.3 per cent to 3.48 per cent. 

All products have fees of 1.5 per cent. 

For company landlords with a single residential property, the bank has launched five products up to 80 per cent LTV. These offer two and five-year fixed rates ranging from 3.88 per cent to 4.28 per cent. 

Up to 75 per cent LTV, products with rates varying from 3.48 per cent to 3.78 per cent have been introduced. These products have either no fee, or fees of £1,999 and 1.5 per cent. 

A five-year fixed product up to 75 per cent LTV has been reduced by 0.3 per cent to 3.48 per cent, and this has a 1.5 per cent fee.  

Changes have also been made to offerings for portfolio landlords and those lending against homes in multiple occupancy (HMO) and multi-unit freehold blocks (MUFB) up to six units. 

These include the introduction of products up to 75 per cent LTV and rate reductions of 0.3 per cent. 

Jon Cooper (pictured), head of mortgage distribution at Aldermore, said: “With the outlook for the economy looking more favourable, due to the success of the vaccination programme and the near ending of social distancing restrictions, now is the time many landlords will be considering their future strategies.  

“So we’re delighted to announce a wave of new products and better rates to help those landlords, both big and small, realise those future portfolio goals.”