Aldermore has launched a limited edition buy-to-let mortgage product with an interest rate of 3.99 per cent fixed for five years.
Available immediately, the new product is available for up to 80 per cent loan-to-value (LTV).
The rate is available for individual landlords and limited companies, and for both purchase and remortgage on single residential units.
There is a completion fee of 2.5 per cent, with no booking fee.
Early repayment charges are 5 per cent in year one, 4.5 per cent in year two, 4 per cent in year three, 3.5 per cent in year four and 3 per cent in year five.
The overall cost for comparisons is 4.3 per cent APR.
Charles Haresnape, group managing director of mortgages at Aldermore, said: “The new fixed rate product is available for both purchase and remortgage and is great for landlords who are looking to guarantee their mortgage repayments for the long term, allowing them to better plan their investments.
“There is great demand for affordable rental accommodation, and it is vital that we support buy-to-let landlords while housing supply pressures continue to push up house prices.”
“Aldermore supports both individual landlords and those investing through limited companies and recently brought our company rates in line with those available to individual landlords.”
