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Aldermore cuts rates on 5-year fixed rate BTL remortgage products

Aldermore has reduced the rates on its buy-to-let five-year fixed remortgage products for individual landlords and company landlords by 0.2%.

Individual landlords submitting remortgage applications through the specialist bank’s residential portal will find that they have access to a five-year fixed rate 75% loan-to-value (LTV) remortgage deal, which has been reduced from 4.18% to 3.98%.

There is also a five-year fixed rate remortgage product available at 80% LTV, which has been reduced from 4.78% to 4.58%.

Both products come with no arrangement or valuation fees.

Damian Thompson, director of mortgages, Aldermore, commented: “We are committed to supporting a robust private rented sector that provides quality and choice to tenants across the UK.

“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.”

Company landlords submitting remortgage applications through its commercial portal will not just be able to access the same rates as individual landlords, but they will also be able apply for a new multi property limited edition five-year fixed rate remortgage product at 3.78% up to 75% LTV and a 4.38% deal available at 80% LTV.

Thompson added: “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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