Aldermore has cut rates on its range of specialist limited company (single residential unit) buy-to-let products.
The move was made to align them with Standard individual (single residential unit) buy-to-let deals, removing the additional 1% previously charged for deals for limited companies.
In addition, Aldermore has re-introduced its buy-to-let two year fixed rate deal for individuals at 4.68% for an 80% LTV.
Charles Haresnape (pictured), Aldermore’s group managing director, mortgages, said: “With recent changes towards buy-to-let, Aldermore has looked to support those investing through limited companies by reducing rates in order to bring them in line with our product range for consumers.
“Feedback from our brokers shows an increase in the number of enquiries for buy-to-let products through limited companies. It is important that we are flexible to the investment patterns of our customers, and we have responded by levelling the playing field between our consumer and company buy-to let rates.
“With one in five properties in the UK owned by a private landlord, the private rental sector is a hugely important component of the housing market, and supporting buy-to-let landlords is crucial at a time when housing supply pressures have seen the number of number of households renting rise from 2.3 million in 2001 to 5.4 million in 2014.”
