Specialist Bank, Aldermore, has today launched a new buy-to-let multi-property remortgage product for individual landlords with single residential units. The limited edition product, with no valuation or product fee and free standard legal fees*, is available to customers with an existing Aldermore mortgage, new customers submitting a second or subsequent remortgage application(s), or submitting multiple applications at the same time.
Available immediately (but for a limited time only):
- 5 year fixed rate up to 75% LTV 3.48%
- 5 year fixed rate up to 80% LTV 3.78%
Damian Thompson, Director of Mortgages, Aldermore comments: “The buy-to-let sector plays a pivotal role in the housing market so we are pleased to launch our latest product. The limited edition products provide further support to landlords looking to remortgage one or multiple properties at the same time.
“The buy-to-let market has experienced vast amounts of change over the past two years, due to a multitude of regulatory, underwriting and tax changes. Our recent research shows that individual landlords are feeling the force of these changes, as they are less optimistic than portfolio landlords, about the opportunity the buy to let market currently offers. Over two fifths (41%) of portfolio landlords aim to expand their portfolios over the next 12 months, whereas just over one in 10 (12%) individual landlords plan to purchase more properties.
“With this in mind, we recognise the challenges individual landlords are facing, so we continue to review our products in order to provide landlords with the support they need.”
Notes to editors
* No valuation, legal, application or product fees. A funds transfer fee of £30 will apply.
11,000 online interviews with private landlords, between 28 February to 13 March 2018
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