Aldermore has unveiled a range of limited edition five-year fixed rates for buy-to-let (BTL) remortgagors with no valuation, legal or product fees.
The specialist lender’s offer includes an interest rate of 3.48 per cent up to 75 per cent loan-to-value, reduced from 3.98 per cent.
It has also cut the rate on its five-year BTL fix at 80 per cent LTV by 0.5 percentage points to 4.38 per cent.
Charles McDowell, commercial director, mortgages, at Aldermore, said the cuts were aimed at giving borrowers a chance to fix their payments amid expectations of a rise in interest rates.
He added: “Buy-to-let continues to play a vital role in the housing market, as the number of renters in the UK grows.
“At Aldermore we regularly review our products to ensure we support our customers, and we are delighted to offer landlords remortgage products from 3.48 per cent with no fees.”
Kevin Hever, adviser at Wolverhampton-based Cornerstone Financial, commented: “The rates sound good, but they are probably a little bit higher than some of the other stuff that is on the market.
“While that sort of rate is not market-leading, Aldermore do allow some element of adverse, so it is to be welcomed for customers who have had some credit issues over the last few years.”
simon.allin@ft.com
