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Aldermore increases buy-to-let LTV to 80% and improves rates
Aldermore has increased the maximum LTV to 80% on its range of residential buy-to-let fixed rate mortgages with immediate effect. It has also reduced its 2 year discount rates, 3 and 5 year fixed rates and its buy-to-let reversion rates, which results in a more generous rental calculation for many borrowers.
Key features of Aldermore Residential Mortgages' buy-to-let product line-up include:
LTVs now available up to 80%
* Reversion rates reduced by 0.5%
* Maximum portfolio size increased to 5 properties and £2 million
* Maximum age 85 years at the end of the mortgage term
* Choice of fixed, discounted and term variable rates from 4.48% (see 'notes to editors' for further information about rates)
Charles Haresnape, Managing Director of Residential Mortgages at Aldermore, said:
"We're very comfortable with the way our buy-to-let portfolio is performing and feel the time is now right to strengthen our range. These enhancements to both criteria and rates will ensure Aldermore's residential buy-to-let products are amongst the most competitive available and I have no doubt they will be popular with both brokers and their clients.
"Intermediaries can also be assured they will receive Aldermore's consistently high quality award-winning service, provided by experienced staff who are always happy to discuss cases with brokers."
Aldermore markets its residential mortgages exclusively via regulated intermediaries and, unlike most other lenders, decision-making is not dependent on credit scoring but is based on sensible underwriting rules and criteria applied by mortgage professionals.
Full information about Aldermore's products including rates, criteria and a downloadable product guide, are available at: www.aldermore-mortgages.co.uk or brokers can contact Aldermore on 0333 3211000.
For further information journalists can contact:
Josh Cooper, PR consultant office: 01654 791385
email@example.com mobile: 07768 355265
Notes to Editors
Buy- to-let product rates
Aldermore Residential Mortgages' portfolio of products includes the following:
- 2 year fixes from 4.58%
- 2 year discounts from 4.78%
- 3 year fixes from 4.48%
- 5 year fixes from 5.68%
- Term variable rates from 4.68%
Full product details and a downloadable product guide are available at: www.aldermore-mortgages.co.uk
Aldermore is a new British bank and one of the best capitalised banks in the UK. With backing provided by AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley's Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and lends to homeowners and small and medium sized businesses.
Aldermore does not depend on the wholesale, securitisation or international capital markets and has not been involved in any banking activities or the marketing of any exotic products which have been the cause of problems for so many financial institutions.
As a British bank, Aldermore is regulated by the Financial Services Authority and is registered under the Financial Services Compensation Scheme, which means customers' savings are protected up to the statutory limit of £85,000 per person. Aldermore is also a member of the Council of Mortgage Lenders.
Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.
About AnaCap Financial Partners
Established in 2005, AnaCap is Europe's largest specialist private equity investment advisor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with more than €1 billion under management. AnaCap's funds invest in businesses with high growth potential and strong management teams. AnaCap works with management teams to improve infrastructure and business processes. It employs sophisticated, twenty-first century technology to create low cost, scalable, sustainable and highly digital based platforms. AnaCap's day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.
AnaCap's team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of AnaCap's portfolio.
The success of AnaCap's investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.