Aldermore launches into let-to-buy
The bank will move into the market which allows homeowners to remortgage their current residential property using one of Aldermore’s buy-to-let products.
Charles Haresnape, managing director of Aldermore Residential Mortgages, said the bank was looking to capitalise on the burgeoning lettings sector.
“Letting out an existing property rather than selling is an attractive option in today’s housing market.
“With rental yields continuing to rise in most regions, homeowners can benefit from rising rental demand, whilst at the same time being able to take advantage of lower house prices when buying property for their own use.
“We have seen growing demand for this facility and are delighted to extend our lending criteria to accommodate a let-to-buy option. Existing homeowners can remortgage their home using any Aldermore buy-to-let product.”