Aldermore lowers rates on buy-to-let and residential mortgages
Aldermore has reduced the rates on its range of buy to let and residential mortgage products. The changes include the launch of the Bank’s lowest ever two year fixed rate residential mortgage.
Available immediately the new products include:
Buy to Let
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2 year fixed rates from 3.98% up to 75% LTV and from 4.28% up to 80% LTV
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3 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
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2 year fixed rates from 3.48% up to 75% LTV and from 3.98% up to 80% LTV
Charles Haresnape, group managing director mortgages at Aldermore said:
“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. 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.”
