The Bank’s new Limited Edition 5 Year Fixed Rate is available to individuals applying for buy-to-let mortgages on single residential units. Additionally, Aldermore’s Limited Edition term variable rate buy-to-let mortgage now comes with no product fee.
Available immediately, the new term variable rate buy-to-let mortgage offers:
- 3.68% up to 75% LTV (loans £250,000 up to £1m)
- Application fee £199
- No product fee
Aldermore’s new 5 year fixed rate offers:
- 2.79% up to 70% LTV (loans £25,000 up to £1m), down from 2.99%
- 2.99% up to 75% LTV (loans £25,000 up to £600,000), down from 3.25%
- 3.25% up to 80% LTV (loans £25,000 up to £400,000), down from 3.99%
- Application fee of £299
- Product fee of 1.50%
Charles Haresnape, Aldermore’s Group Managing Director, Mortgages, said:
“The change in the base rate has led to the average five-year fixed rate for a 75% loan-to-value buy-to-let mortgage falling below 4% for the first time, and now is a great time for landlords to remortgage some or all of their portfolios.
“Buy-to-let as an investment continues to be underpinned by strong fundamentals, with tenants who signed up to a new tenancy during the month of August agreeing to an average rental increase of 3.1% year on year. Aldermore looks to support landlords wherever possible, and our recent product changes are a testament to our commitment to those in the buy-to-let market.”
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.