"Now more than ever we can see the value a robust and high quality Private Rented Sector plays in the UK housing market."
New products for individual landlords with single residential properties include 80% LTV rates at 3.88% fixed for two years and 3.98% fixed for five-years, both with a 1.5% product fee. A 75% LTV five-year fixed rate has also been reduced by 30bps to 3.48%.
For company landlords with single residential properties, Aldermore has launched a range of 80% LTV products, starting at 3.88% for a two-year fixed rate with a 1.5% fee, rising to 4.28% for a five-year fix with no product fee. At 75% LTV, two and five-year fixed rates are now available from 3.48%, rising to 3.78% for a fee-free five-year fix.
For portfolio landlords with single residential properties, five-year fixed rates at 75% LTV now start at 3.28% with a 1.5% product fee or 3.58% fee-free.
Aldermore has also launched new products for individual and company landlords with HMOs and multi unit freeholds up to six bedrooms/units.
At 75% LTV, HMO products are available from 3.88% fixed for two years and 3.98% fixed for five-years.
For landlords with multi-property HMOs or MUFBs, rates start from 3.68% and 3.78% for two and five-year fixed rates with a 1.5% fee.
Aldermore also offers assisted legal fees, free valuation and no funds transfer fee on remortgages for individual and company landlords with single unit products, alongside free legal fees for individual landlords.
Jon Cooper, head of mortgage distribution at Aldermore, commented: “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, due to the success of the vaccination programme and the near ending of social distancing restrictions, now is the time many landlords will be considering their future strategies. So we’re delighted to announce a wave of new products and better rates to help those landlords, both big and small, realise those future portfolio goals.
“According to the latest BDRC data, over six in ten landlords intend to fund their next portfolio purchase with a buy-to-let mortgage, so at Aldermore we work closely with our broker partners to ensure we’re providing products that align with landlords’ needs. Our human approach to lending enables us to consider each application on their own merits, even if complicated in nature or a customer has credit blips in the past, which gives us an opportunity to help as many people as we can with their borrowing needs.”
