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Aldermore cuts buy-to-let mortgage rate

Aldermore has reduced its buy-to-let mortgage rate by 0.2% as the lender looks to expand by targeting the private rental sector.

The buy-to-let mortgage product on offer for purchase or remortgage available for individual landlords on single residential units have been cut by 2% to 2.98% up to 75% loan-to-value, with the product fee reduced from 2.5% to 2%.

Although this is not the lowest priced buy-to-let mortgage on the market, it is a competitive rate that will undoubtedly appeal to many buy-to-let investors.

Charles McDowell, commercial director of mortgages at Aldermore, commented: “As a result of the strong demand in the remortgage and buy-to let markets, we have looked to cut our rates to help our customers get the best deals possible.” 

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