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Aldermore reduces buy-to-let rates

Aldermore has cut rates on its buy-to-let mortgage range for company landlords, ensuring that they are now aligned with buy-to-let deals offered to individuals.

The specialist lender has also slashed rates for multi-unit freehold and HMOs, with rates now starting from 4.38% for a two-year fix at 75% loan-to-value for landlords acquiring new property or remortgaging existing investments.

Aldermore has also cut the term variable rates across its BTL range, with rates starting from 3.28%.

The bank has also reduced its early repayment charges and will offer new remortgage products with no product, valuation or legal fees.

Charles McDowell, commercial director for mortgages at Aldermore, commented: “The buy-to-let sector plays an important role in the housing market so we are delighted to announce these latest changes, which provide further support to landlords.

“The sector has experienced significant change recently, so we regularly review our products to ensure we continue to support a broad range of customers, no matter how big or small their portfolio is.”

A new study by Aldermore has found that Landlords remain broadly optimistic about buy-to-let in spite of recent challenges.

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