Aldermore introduces reduced BTL rates

Intermediaries will have access to the products via a fully responsive broker portal available through smartphones and tablets.

The changes include:

• reduced rates for company landlords aligned to the bank’s individual BTL rates
• reduced rates for multi-unit freehold and HMOs from 4.38% (two-year fixed rate purchase and remortgage up to 75% LTV)
• term variable rates have been reduced across the product range, with rates from 3.28%
• new multi-property product with discounted rates for existing mortgage customers or new customers submitting a second or subsequent purchase and remortgage application(s)
• new remortgage-only products now come with no product, valuation or legal fees
• early repayment charges have also been reduced
• one year’s accounting information now considered.

Charles McDowell, commercial director of mortgages at Aldermore, said: “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.

“Whatever their situation, we want to support these landlords as best we can through reducing rates, removing fees on our remortgage products, plus decreasing the penalty for early repayments.”