Aldermore has launched a new buy-to-let (BTL) limited edition product for landlords, with reduced rates.
The bank has added two five-year fixed products for individuals and companies owning single residential investment properties.
One has an interest rate of 4.92%, fees of 1.5% and a loan-to-value (LTV) of up to 75%; the other has an interest rate of 5.14%, fees of £1,999 and a loan-to-value (LTV) of up to 75%.
Within the same range, the two-year fixed rate with a fee of 5% has been reduced by 15 basis points to 3.14%, with an LTV of 75%, while the no-fee equivalent rate has also been reduced by 15 basis points to 5.64%, with an LTV of 75%.
There are two new products in the lender’s multi-property product range, including a five-year fixed at 4.87% with 1.5% fees and up to 75% LTV; and a five-year fixed at 5.09% with fees of £1,999 and up to 75% LTV.
Oldmore has also made rate cuts across the range, including a 15 basis point reduction to 5.59 per cent for the no-fee two-year fixed rate (at 75 per cent LTV) and a 15 basis point reduction for the two-year fixed rate (at 75 per cent LTV) with a 5 per cent fee to 3.09 per cent.
For homes in the multiple vocational products, there are four additional two-year fixed rate products, all offering paid and no-fee options up to 75% LTV.
Jon Cooper, head of mortgages at Aldermore, said: “Our recent research shows that landlords across the country are enjoying better profits and yields than in past years, however, they still face challenges and for some the future looks uncertain.”
“At Aldermore we are committed to helping the many great landlords active in the market. We do this by working with our broker partners to offer competitive pricing and a personable, bespoke service.”
