Aldermore

Aldermore reduces rates on five-year fixed BTL remortgage products



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Aldermore has lowered the rates on its BTL five-year, fixed remortgage products.

The specialist bank has made these changes for both individual and company landlords.

The new rates are available immediately with no product or valuation fees.

Individual landlords submitting remortgage applications through its residential portal:

  • five-year fixed rate 75% LTV remortgage reduced from 4.18% to 3.98%
  • five-year fixed rate 80% LTV remortgage reduced from 4.78% to 4.58%

Company landlords submitting remortgage applications through its commercial portal:

  • five-year fixed rate 75% LTV remortgage reduced from 4.18% to 3.98%
  • five-year fixed rate 80% LTV remortgage reduced from 4.78% to 4.58%
  • new multi-property limited edition five-year fixed rate remortgage at 3.78% to 75% LTV and 4.38% to 80% LTV

Aldermore now accepts new build flats for investment purposes and has reduced the interest cover ratio on the affordability calculation for customers that meet its definition of a basic rate taxpayer.

Damian Thompson, director of mortgages at Aldermore (pictured above), said: “Landlords – no matter how big or small – play a significant role in today’s housing market so we believe it is our responsibility as a provider to ensure our products meet their needs and help them realise their ambitions.

“At Aldermore, we understand the recent changes to the buy-to-let market have presented new challenges, which is why we are constantly reviewing and improving our proposition to ensure landlords receive the financial support to assist the growth of the sector.”

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