Aldermore looks to fill BTL gap created by Lloyds

Published on

Aldermore has made changes to its buy-to-let range, following Lloyds Banking Group’s move to restrict its own presence in the market.

Aldermore’s two new fixed rate deals, are both available up to 75% LTV. There is a 5.69% two-year fix, with a 2.25% completion fee and a 5.99% four-year fix, with a completion fee of £1,495

Loans are available up to £600,000 for either the purchase or remortgaging of up to two buy-to-let properties per applicant, and a free legal facility is available on all remortgage business. The applicant must own at least one existing buy-to-let property and rental coverage should be at least 125% calculated using the higher of the pay rate or reversion rate.

Colin Snowdon, chief executive of Aldermore’s residential mortgage lending business, said: “Lloyd’s recent announcement was a real disappointment for many brokers

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

ASA upholds complaint over ‘leading body’ claim in CPD accreditation ads

The Advertising Standards Authority (ASA) has upheld a complaint against The Professional Development Consortium...

Additional property purchases drive stamp duty receipts in more than half of councils

Landlords and second-home buyers now account for the majority of stamp duty receipts in...

Landlords urged to review rent guarantee cover after Renters’ Rights Act changes

Buy-to-let landlords should consider rent guarantee insurance after the Renters’ Rights Act came into...

Rural house prices outpace urban markets

Rural housing markets in England and Wales are recording stronger annual price growth than...

Connells Survey & Valuation and StrideUp launch platform with Cotality

Connells Survey & Valuation and StrideUp have become the first firms to launch Cotality’s new Integrated LenderHub platform...

Latest publication

Other news

Beyond the walk: Mortgage leaders talk mental health – part 8

The Mortgage Industry Mental Health Charter (MIMHC) is hosting its third annual 144-mile Walk...

The human adviser in an AI mortgage market

NatWest’s decision to place home-buying guidance inside ChatGPT is a story with large implications. It...

ASA upholds complaint over ‘leading body’ claim in CPD accreditation ads

The Advertising Standards Authority (ASA) has upheld a complaint against The Professional Development Consortium...