Aldermore has unveiled a new limited edition rate on its standard buy-to-let product range.

The new rate is available for loans up to £1m, and is available to individuals applying for single residential units.

It has an initial rate of 3.25% for five-year fixed rates available up to 80% LTV and is available. for both for purchase and remortgage.

There is a completion fee of 1.50% and a booking fee of £199.

Charles Haresnape, Aldermore’s group managing director for mortgages, said: “As buy-to-let specialists we are always looking to help customers and intermediaries by offering a greater product choice. Our new rates help keep costs down for clients at a time when demand for housing continues to out-strip supply.

“According to the latest survey from RICS, tenant demand continues to rise across all areas with a net balance of 23% of contributors reporting an increase at the national level, and buy-to-let remains a strong investment choice despite recent changes to stamp duty charges.”