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Aldermore snips buy-to-let mortgage rates

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19/01/2017
The lender has reduced two-year fixed rate deals for landlord purchasers and remortgagors
Aldermore snips buy-to-let mortgage rates

Aldermore has announced that from today it has cut the rates on a selection of its buy-to-let mortgages.

The specialist lender has reduced its two-year fixed rates for landlords on purchases and remortgages, as well as offering some mortgages with a reduced fee.

The new range of two-year fixed rates includes two deals available up to 75% of the property’s value – one priced at 3.48% with a product fee of 2.5%, and another at 3.98%, with a product fee of £1,999.

For borrowers with just 20% upfront there are two new deals available up to 80% of the property’s value – one priced at 3.88% with a product fee of 2.5%, and another at 4.38%, with a product fee of £1,999.

The new rates available with no product fees are:

  • 4.48% to 75% of the property’s value (with no product fee, and an application fee of £199)
  • 4.88% to 80% of the property’s value (with no product fee, and an application fee of £199).

Charles Haresnape, group managing director, mortgages, at Aldermore, said: “The latest data from the CML, for November, saw the highest level of gross buy-to-let lending since the changes to stamp duty in April, and our new products for private individuals reaffirm our commitment to supporting the UK’s landlords.

“With persistent supply pressures, the UK’s private rental sector continues to play an increasingly important role in the housing market. While much has been made of the recent changes to buy-to-let, the majority of landlords see buy-to-let property as a long-term investment, and we can expect to see robust growth in the sector during the rest of the year.”

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