Aldermore Bank has made a series of cuts of 30 basis points to its buy-to-let product suite and added new products.
For individual landlords with single residential properties, the lender has cut the 75% LTV five-year fix with 1.50% product fee to 3.48%.
It has also added two- and five year fixes at 80% LTV at 3.88% and 3.98%, respectively. Both these mortgages charge a 1.50% product fee, too.
For company landlords with a single residential property, Aldermore has reduced the 75% LTV five-year fix with 1.50% product fee to 3.48%.
And at 80% LTV, it has added:
- A two-year fix with 1.50% product fee at 3.88%
- A two-year fix with £1,999 product fee at 3.98%
- A five-year fix with 1.50% product fee at 3.98%
- A five-year fix with £1,999 product fee at 4.08%
- A five-year fix with zero product fee at 4.28%
And, at 75% LTV:
- A two-year fix with £1,999 product fee at 3.48%
- A five-year fix with £1,999 product fee at 3.58%
- A five-year fix with zero product fee at 3.78%
Aldermore has also added products for individual and company landlords with houses in multiple occupation (HMOs) of up to six bedrooms and multi-unit freehold of up to six units at 75% LTV, starting at 3.88%.
It has also added two- and five-year fixes at 75% LTV for individual and company landlords with multi property HMOs up to six bedrooms, starting at 3.68%.
Aldermore head of mortgage distribution Jon Cooper comments: “With so many people evolving their working lives away from offices and into their homes, now more than ever we can see the value a robust and high quality private rented sector plays in the UK housing market.
“With the outlook for the economy looking more favourable… now is the time many landlords will be considering their future strategies.
And Legal & General Mortgage Club head of lender relationships Danny Belton says: “Aldermore’s range refresh is certainly something to be welcomed by advisers and landlords alike.
“The reduced rates and increased product choice can only be seen as a step in the right direction and the timing is great given that many landlords that locked into five-year fixed rate deals ahead of the introduction of the stamp duty surcharge will now be on the hunt for a new product.”
