Aldermore has revamped its range of residential buy-to-let mortgages.
The range now includes the following:
- A term variable rate of 4.98% available to 80% LTV (previously only available to 75% LTV) and at 4.48% to 75% LTV (a reduction of 50bps – was previously 4.98%)
- A two-year fixed rate of 4.98% available to 80% LTV (a reduction of 80 bps – was previously 5.78%)
- A five-year fixed rate of 5.48% available to 80% LTV (a reduction of 50bps – was previously 5.98%) and at 4.98% to 75% LTV (a reduction of 30bps – was previously 5.28%)
Aldermore has also reduced the term variable rate on its residential range of mortgages to 3.98% (was previously 4.28%).
These buy-to-let mortgages are available on portfolios of up to five properties per individual applicant and capital raising is allowed up to 80% LTV.
Aldermore does not credit score and there is no minimum income requirement for buy-to-let mortgage applications from existing landlords.
Charles Haresnape (pictured), managing director of Aldermore Residential Mortgages, said: “These rate reductions, combined with an increase in maximum LTV to 80% on our most popular products, will help landlords expand their portfolios at a time when property rental values are forecast to rise by another 2% during 2013.”
