Available immediately the new product includes:
- 3.49% variable rate for term (AMR -1.49%)
- Up to 80% LTV
- Rental calculation based on the product pay rate
This new product is available to all those looking to remortgage and carries a 2.00% completion fee. The new offering provides landlords with Aldermore’s lowest ever buy-to-let term variable rate, and with no reversion rate, and the calculation of pay rates on rental yields, landlords are able to borrow a larger amount. This remortgage option also supports Aldermore’s no portfolio limits policy.
Charles Haresnape, Group Managing Director – Mortgages at Aldermore said:
“With the current range of competitive mortgage products available, it is no surprise that we are seeing higher remortgaging levels, with the number of remortgage loans advanced in September growing by 12% from August, a year-on-year rise of 4%.
“There has never been a better time to take advantage of historic low interest rates, and Aldermore always looks for ways to support its customers in areas where there is a high level of consumer demand.
“This new rate underlines Aldermore’s commitment to offer flexible and competitive finance options to both new and existing customers.”
For further enquiries, journalists can contact:
Johnathan Priestley, Cicero
Phone: 0207 297 5954
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to Editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.