Aldermore has reduced rates on both its buy-to-let (BTL) and residential owner occupier ranges for new and existing customers.
For new customers, fixed rates on all Level 1 residential owner occupier between 80% and 95% loan-to-value (LTV) have been lowered by as much as 0.20% to start from 5.75%.
In addition, Level 2 and 3 fixed rates up to 80% LTV have been cut by 0.20% to start from 5.59% while Level 2 fixed rates between 80% and 90% LTV have gone down by up to 0.25% to start from 6.19%.
Prices have also been trimmed for new BTL customers. These include houses of multiple occupancy and multi unit freeholds two-year fixed rates which have been lowered by up to 0.30% to start from 3.69% and come with 3% and 5% fee options.
Equivalent five-year fixed rates have been cut by up to 0.35% to start from 4.44% and come with zero fee, 1.50%, 5%, 7% and £1,999 fee options.
For individual and company landlords with single residential properties two-year fixed rates have been reduced by as much as 0.20% to start from 3.49% with no fee, 1.50%, 3% and 5% fee options.
Five-year fixed rates have been cut by up to 0.25% with rates starting from 4.34% with zero fee, 1.50%, 5%, 7% and £1,999 fee options.
Existing customers will also see rates lowered on residential owner occupier two- and five-year standard fixed rates, which have gone down by 0.10% to start from 5.39%.
In the same range, two- and five-year high LTV fixed rates will be reduced by as much as 0.20% to start from 5.94%.
Products for individual and company landlords with single residential investment properties will see rate reductions of 0.20% on all fixed rates to start from 5.79%, while HMOs and multi unit freehold products will be cut by up to 0.30% on all fixed rates to start from 5.89%.
Aldermore director of mortgages Jon Cooper says: “We know it’s a competitive market right now and lenders must be proactive if they want to win business from brokers.”
“The latest changes to our BTL range are designed to support landlords at every stage of their journey, from first-time investors to experienced portfolio holders, while our broader mortgage range continues to help residential customers find the right solution for their homeownership needs.”
Earlier this month, Aldermore launched several zero fee limited edition BTL products for landlords.
