Brokers urged to act quickly for new BTL rate

Brokers urged to act quickly for new BTL rate


Landlords can now benefit from advantageous funding costs following the recent announcement from Aldermore Residential Mortgages which sees the lender offer limited edition rates on its buy-to-let remortgage deals.

Some of the key features include:

Market leading* 5 year fixed rates - at 4.78 per cent to 65 per cent LTV, 4.98 per cent to 75 per cent LTV or 5.88 per cent to 80 per cent LTV

Term variable rate – 4.48 per cent up to 75 per cent LTV

Completion fee – of £1,999 on both products

Limited funding available, allocated on a first come, first served basis.

* All three rates are the market leading rates for remortgages, as at 24th July. Source: Moneyfacts

Commenting on the launch, Charles Haresnape, Managing Director of Aldermore Residential Mortgages, said: “Given the advantageous funding costs over longer terms, Aldermore believes that the introduction of a five year fixed BTL product will be attractive to many landlords. 

“We have found that some landlords are looking for certainty of cost over the medium term and believe that rental levels will continue to rise.  We are keen to provide as many funding choices for the increasing number of landlords.”

He added: “These highly competitive remortgage deals will only be available for a limited period and we therefore recommend brokers apply as soon as possible to avoid disappointment.

“The latest data from the CML confirms that the mortgage market is continuing to wallow in the doldrums and we hope these Limited Edition remortgage  products will inject fresh interest for buy-to-let borrowers.”

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