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Aldermore cuts buy-to-let & NewBuy rates

POSTED: 7th March 2013
IN: Newsroom
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Aldermore has cut the following rates on its buy-to-let and NewBuy mortgage range:

Buy-to-Let:

  • 3 year fix: rate cut from 5.78% to 4.98% for 80% LTV loans with 2.5% completion fee, making it market leading*
  • 3 year fix: rate cut from 5.98% to 5.28% for 80% LTV loans and from 5.28% to 4.98% for 75% loans with £999 completion fee
  • 5 year fix: rate cut from 5.48% to 5.28% for 80% LTV loans

NewBuy:

  • 2 year fix: rate cut from 5.48% to 4.79% for loans with £999 completion fee
  • 2 year fix: a new rate option of 4.99% with no completion fee has been introduced

 

Charles Haresnape, Managing Director of Residential Mortgages at Aldermore, said: "The demand for buy-to-let continues apace, as some buyers struggle to buy homes of their own. With rents reaching record highs, landlords are looking for ways to increase their borrowing and also release equity so that they can add to their property portfolios.

"As Britain's leading challenger bank, we're delighted to make these rate cuts to help property investors and further develop the buy-to-let market. We're also delighted to be reducing the rates and introducing a new option without completion fees on our NewBuy range."

This announcement follows Aldermore's recent launch of a let-to-buy mortgage option and also the opening-up of its lending criteria to accommodate full family gifted deposits.

Aldermore Bank has lent more than £2 billion since first opening its doors for business in the summer of 2009.

For brokers, full product details and a downloadable copy of the latest product guide can be found at www.aldermore-mortgages.co.uk.

 

**Ends**

 

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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