Aldermore offers new buy-to-let variable product

Published on

Aldermore has added a buy-to-let product to its Limited Edition range of mortgages.

The new product, which is available for purchase or remortgage, offers a variable rate for the full term of the mortgage, is priced at 4.98% up to 70% LTV and 5.28% to 75% LTV.

There is a 1.5% completion fee, no minimum income requirement and a fee-free legal facility on all remortgages.

Loans are available up to £600,000 to 75% LTV for up to two buy to let properties per applicant. Applicants must own at least one existing buy to let property and rental coverage should be at least 125% calculated using the pay rate. Early Repayment Charges are 3% in year one, 2% in year two and 1% in year three.

Aldermore’s buy-to-let products are being marketed to appointed representatives and directly authorised brokers via 3mc, BDS, Intrinsic, Legal & General, Mortgage Force, Mortgages for Business, Mortgage Intelligence, Mortgage Next, Pink, Personal Touch, Platinum, PMS and Sesame.

Colin Snowdon, chief executive of Aldermore’s residential mortgage lending business, said: “The Bank of England’s recent decision to hold base rates at 0.5% for the 19th consecutive month

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...