Aldermore re-launches buy-to-let mortgage
Aldermore understands landlords want to keep costs down when managing their portfolios and investments, so we now offer reduced rates and upfront fees to assist portfolio management:
- New fee free limited edition 5 year fixed rate products – Fee free remortgage from 3.48% for individual landlords with single residential investment properties
- Free valuation and assisted legal fees – Available for single residential investment properties for remortgages
- New products for portfolios up to £5m
- Greater application convenience – New products for submitting multiple property portfolios on one application
- New rate and product fee options
- Reduced HMO and multi-unit freehold products
- Simplified and reduced single valuation fee scale
- These changes offer even more opportunities for Aldermore to say ‘yes’ to the most complex cases.
Damian Thompson, group managing director – retail finance, Aldermore, comments: “Landlords play a pivotal role in the UK housing market and, as the private rented sector continues to expand, it is important they have options and flexibility, so they can continue to provide for tenants. We are pleased to announce our latest commitment to supporting landlords, providing them with more choice, more flexibility and more options.
“We know landlords have varied and often complex portfolios that frequently do not fit in the boxes other lenders require them to fit in. We have listened to feedback from landlords and intermediaries, and this expansion of options gives us more opportunity to support landlords to find the mortgage that is right for them, whatever their circumstances.”
Martin Reynolds, CEO, Simplybiz said: “The number of criteria and product structure changes that Aldermore have made is a demonstration of the positive attitude they have for the buy to let market. It should also be seen as a positive view of the resilience and long-term requirements of the market. The ability to offer a longer term, higher loan sizes and loan purpose coupled with the new product flexibility will be welcomed by the intermediary market and will create new opportunities for their landlord clients. Well done Aldermore.”
Paul Shearman, mortgage, protection and GI proposition director, Openwork said: “Aldermore is a lender well used to supporting our advisers for clients with unique circumstances that don’t fit into the one-size-fits-all approach of other lenders. These latest buy to let product and portfolio management enhancements will be well received by advisers and clients alike, and help cement Aldermore as a go-to lender for advisers looking for competitive rates and experienced buy to let underwriting.”
Danny Belton, head of lender relationships, Legal & General Mortgage Club added: “Just like other market sectors, the borrowing needs of today’s landlords continue to evolve and change. It’s great to see Aldermore make positive improvements to both their criteria and products that will provide greater borrowing opportunities for customers in the buy to let market.”
Stephanie Charman, specialist lending relationship manager, Sesame Bankhall Group, comments: “With so much debate around the uncertainty of the buy to let market, it is positive to see a lender such as Aldermore making such significant changes to their buy to let proposition. Offering a more expansive range of product options for advisers to discuss with their landlord clients can only assist with bolstering the market.”