Aldermore has announced that it is reducing rates across its BTL range by 0.20% while also introducing a new limited edition product, effective from today (3 July 2024).
The bank’s limited edition product is on a 5-year fixed term basis up to 65% LTV, with pricing as per below:
New limited edition on a 5-year fixed term up to 65% LTV:
5-year fixed 5.89% with zero fee
5-year fixed 5.59% with 1.50% fee
5-year fixed 4.89% with 5.00% fee
The rate reductions follow its recent research into how landlords contribute significant sums to local economies across the country, with 79% of landlords opting to use tradespeople based near their rental properties and spending an average of £6,003 a year each on local services.
Aldermore also found that 69% of UK renters report having a positive experience with their landlord, equivalent to five million renters.
Jon Cooper, director of mortgages at Aldermore, comments: “Being a landlord presents unique challenges and we don’t take the loyalty of our landlord customers for granted. We’re pleased to introduce our new limited edition product and offer a range of cheaper rates, backing more landlords to go for it in life and business.”
