Aldermore has cut rates across its landlord and residential ranges for new and existing customers by up to 70 basis points.
Highlights of reductions across its buy-to-let products include:
For individual and company landlords with single residential investment properties
- Two-year fixes, with 1.50% fee, at 6.59% to 75% loan to value
For individuals, companies, houses in multiple occupation and multi-unit freehold (up to 6 bedrooms / 6 units)
- Five-year fixes, with no fee, at 7.39% to 75% LTV
Buy-to-let large loan houses in multiple occupation and multi-unit freehold (7 to 12 bedrooms/7 to 20 units)
- Two-year fixes, with 1.50% fee, at 7.19% to 75% LTV
Residential owner occupied – with reductions of up to 70bps for high LTVs
High LTV
- Five-year fixes, with no fee, at 7.39% to 90% LTV
Residential owner-occupied standard level 2
- Two-year fixes, with a £999 fee, at 7.59% to 75% LTV
For existing customers across product switch ranges — all products are fee free, with reductions of up to 70bps for two- and five-year fixed-rate High LTV and Help to Buy: equity loan products
Residential owner-occupied high LTV
- Two-year fixes at 7.29% to 95% LTV
BTL – reductions of up to 50bps for five-year fixed-rate offers
BTLs for Individual and company landlords with single residential investment properties
- Five-year fixes at 6.94% to 85% LTV
Aldermore head of mortgages Jon Cooper says: “We know that people’s circumstances can be varied and complex, and that they often don’t fit in to the boxes other lenders require them to, so it can be a real challenge to receive the financial support they need.
“These rate changes come a month [in July] after Aldermore announced three new pledges for its broker partners.
“Among these pledges is Aldermore’s promise to offer at least one full working day’s notice of any product withdrawal, as well as guaranteeing 10 days to convert a decision in principle into a full mortgage application.”
