MortgagesMay 6 2016

Aldermore launches buy-to-let range

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Aldermore launches buy-to-let range

Bank Aldermore has launched a limited edition rate on its standard and specialised buy-to-let product range.

Available for loans from £250,000 up to £1m, it is aimed at both individuals and limited companies applying for standard residential units.

Product includes:
Initial rate of 3.93 per cent for two, three and five-year fixes at up to 80 per cent loan-to-value
Availability for both for purchase and remortgage
Completion fee of 1.50 per cent
Booking fee of £199

Charles Haresnape, Aldermore’s group managing director for mortgages, said by offering the same rate for fixes from two to five year, customers have the flexibility to make the best decision for their situation, rather than feeling steered towards a fix that may not be a perfect fit.

He said: “Buy-to-let mortgages accounted for a quarter of all home loans granted in March, and while much has been made of the recent changes, the majority of landlords see buy-to-let property as a long term investment, and we can expect to see robust growth in the sector during the rest of the year.”

Michelle Lawson, director at mortgage brokers Lawson Financial, commented: “It’s good to see the lenders reacting to the recent buy-to-let changes and align all products and ignite the market.

“Aldermore have great criteria for buy-to-let and adapting and changing to the market can only be a positive move.”

peter.walker@ft.com