The new rates are available for loans from £25k up to £1m, on Aldermore’s Limited Edition 5 Year Fixed Rate range and available to individuals applying for buy-to-let mortgages on single residential units.
The changes are:
- 3.18% to 70% LTV (loans up to £1m)
- 3.25% to 75% LTV (loans up to £600k)
- Available for private individuals on purchases and remortgages
- A product fee of 1.50%
- An application fee of £199
Charles Haresnape, Aldermore’s Group Managing Director, Mortgages, said:
“In spite of a number of changes across the industry, we continue to see strong growth in the buy-to-let sector. The rush to beat the stamp duty deadline meant that there were 8 per cent more new properties advertised to rent in the second quarter of this year when compared to the year earlier, and the underlying fundamentals of the buy-to-let market remain strong.
“As a specialist lender, we understand the needs of our customers. Through the changes we’ve made today we will continue to support landlords by updating our product range to suit them.”
For further enquiries, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Notes to Editors:
Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.
Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.
Established in 2009, Aldermore has grown significantly. At the end of June 2016, lending to customers stood at £6.8 billion and customer deposits totalled £6.5 billion.
For more information, please visit www.aldermore.co.uk.
Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.