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TODAY'S OTHER NEWS

Aldermore launches new 5-year fixed rate BTL product for individual landlords

Aldermore has launched a new buy-to-let remortgage product for individual landlords.

The five-year fixed rate deal, on offer for a limited period, is only available to landlords with multiple properties, provided they are all single residential units.

Rates start from 3.48% at up to 75% loan-to-value (LTV), while 80% LTV deals start from 3.78%.

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There is no valuation, product or standard legal fees.

This product is available to customers with an existing Aldermore mortgage, new customers submitting a second or subsequent mortgage application or those submitting multiple applications at the same time.

Damian Thompson, director of mortgages at Aldermore, commented: “This product provides support for landlords looking to remortgage one or multiple properties at the same time.

“The buy-to-let market has experienced vast amounts of change over the past two years, due to a multitude of regulatory underwriting and tax changes.

“Our research shows that individual landlords are feeling the force of these changes as they are less optimistic than portfolio landlords about the opportunity the buy-to-let market currently offers.”

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