Aldermore has cut the rates on its range of buy-to-let and residential mortgage deals.

It has launched its lowest ever two-year fixed rate residential mortgage.

New products include:

Buy-to-let:

• Two-year fixed rates from 3.98% up to 75% LTV and from 4.28% up to 80% LTV
• Three-year fixed remortgage option with no valuation, legal or completion fees at 4.98% up to 75% LTV and 5.28% up to 80% LTV (booking fee £199)

Residential mortgages:

• Two-year fixed rates from 3.48% up to 75% LTV and from 3.98% up to 80% LTV

“Aldermore is committed to offering a range of mortgage options based on customer needs, and look to add value for our customers, particularly in sectors such as buy-to-let and remortgages,” said Charles Haresnape, group managing director for mortgages at Aldermore.

“As a result of the strong demand in the remortgage and buy-to-let markets we have looked to cut rates in these areas to help our customers get the best deals possible. This is reflected by our new two year fixed rate residential mortgage offering the lowest rate we have ever offered.

“Low interest rates and a shortage of supply continue to drive a healthy level of demand within the housing market and a competitive environment for lenders providing better choice for customers. With data from the Council of Mortgage Lenders showing house purchase lending up 9% in July, as well as a continued strong growth in year-on-year activity in the buy-to-let sector, we expect a strong second half of 2015.”