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Aldermore launches market leading buy-to-let mortgages up to 80% LTV

POSTED: 30th January 2013
IN: Newsroom
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British challenger bank, Aldermore has updated its range of residential buy-to-let mortgages to include the following:

  • A market leading* term variable rate of 4.98% available to 80% LTV (previously only available to 75% LTV) and at 4.48% to 75% LTV (a reduction of 50bps - was previously 4.98%)
  • A market leading* 2 year fixed rate of 4.98% available to 80% LTV (a reduction of 80 bps - was previously 5.78%)
  • A 5 year fixed rate** of 5.48% available to 80% LTV (a reduction of 50bps - was previously 5.98%) and at 4.98% to 75% LTV (a reduction of 30bps - was previously 5.28%)

Aldermore has also reduced the term variable rate on its residential range of mortgages to 3.98% (was previously 4.28%).

These buy-to-let mortgages are available on portfolios of up to 5 properties per individual applicant and capital raising is allowed up to 80% LTV. Aldermore does not credit score and there is no minimum income requirement for buy-to-let mortgage applications from existing landlords.

Charles Haresnape, Managing Director of Aldermore Residential Mortgages, said: "These rate reductions, combined with an increase in maximum LTV to 80% on our most popular products, will help landlords expand their portfolios at a time when property rental values are forecast to rise by another 2% during 2013." (source of forecast: Rightmove rental Forecast 2013).

Aldermore has lent more than £2 billion (a combination of commercial mortgages, residential mortgages, asset finance and invoice finance) since first opening its doors for business in the summer of 2009.

 

**Ends**

 

* Rates quoted as being market leading are based on Trigold's rankings for BTL loans up to 80% LTV as at 5pm on Tuesday 29th January, 2013.

** The 5 year fixed rate is ranked number two by Trigold for BTL loans to 80% LTV as at 5pm on Tuesday 29th January 2013.

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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