Aldermore relaunches BTL proposition - Mortgage Strategy

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Aldermore Bank has relaunched its buy-to-let proposition and amended its product criteria.

The lender has increased its maximum term from 35 to 40 years, as well as increased the maximum loan size on 75 per cent LTV deals from £600,000 to £1m, and on 80 per cent LTV products from £400,000 to £500,000.

Additionally, all communication defaults are now ignored and small settled defaults from 13 to 36 months will be accepted up to £500.

The bank has also made a series of changes which include new fee free limited edition five-year fixed rate products, fee free remortgages from 3.48 per cent for individual landlords with single residential investment properties, free valuation and assisted legal fees on selected products, and new products for portfolios up to £5m.

Aldermore Bank group managing director Damian Thompson says: “Landlords play a pivotal role in the UK housing market and, as the private rented sector continues to expand, it is important they have options and flexibility, so they can continue to provide for tenants.

“We are pleased to announce our latest commitment to supporting landlords, providing them with more choice, more flexibility and more options.

“We know landlords have varied and often complex portfolios that frequently do not fit in the boxes other lenders require them to fit in.

“We have listened to feedback from landlords and intermediaries, and this expansion of options gives us more opportunity to support landlords to find the mortgage that is right for them, whatever their circumstances.”


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