Aldermore has announced the launch of several new limited-edition buy-to-let mortgage products, alongside a series of rate reductions across its residential owner-occupier and buy-to-let mortgage ranges. The changes apply to both new and existing customers and are available with immediate effect.
For residential owner-occupiers, rate cuts have been made across multiple loan-to-value (LTV) tiers. Fixed rates for Level 1 mortgages (0% to 80% LTV) have been reduced by up to 0.15%, with starting rates from 5.29%. Level 1 customers with higher LTVs (over 80% to 95%) will see reductions of up to 0.20%, with rates from 5.89%. For Level 2 borrowers (over 80% to 90% LTV), reductions of up to 0.30% bring starting rates down to 6.39%. Meanwhile, customers in Levels 2 and 3 (0% to 80% LTV) will see rates cut by 0.10%, starting at 5.79%.
The bank has also introduced several new BTL fixed-rate mortgage options for individual and company landlords. Limited-edition 2-year and 5-year fixed deals with a 5% fee are now available at 3.59% and 4.69%, respectively, up to 75% LTV. Additional 2- and 5-year fixed-rate products are also being introduced, with a 1.5% fee at up to 80% LTV, starting from a rate of 5.69%.
Multi-property landlords will see new limited-edition 2-year and 5-year fixed deals with a 5% fee, priced at 3.54% and 4.64%, respectively, up to 75% LTV. For those investing in houses in multiple occupation (HMO) of up to six bedrooms or multi-unit freehold blocks of up to four units, Aldermore is launching a 2-year fixed rate at 3.99%, also with a 5% fee and up to 75% LTV. Multi-property landlords with HMO or multi-unit portfolios can also access a new 2-year fixed rate at 3.94%, again up to 75% LTV with a 5% fee.
Existing residential customers are also set to benefit from the changes, with rate reductions of up to 0.20% and new zero-fee 2-year and 5-year fixed-rate products available at 90% LTV, with starting rates from 6.34%.
Commenting on the update, Jon Cooper, Director of Mortgages at Aldermore, said: “In the wake of the market volatility we’ve seen over recent weeks, we’re reducing our rates across a wide range of BTL and residential owner-occupier mortgages, whilst introducing our latest wave of limited edition BTL products. We’re always striving to offer significant choice as well as compelling value to our intermediary partners and their clients.”
