Aldermore cuts buy-to-let rates

Aldermore has reduced 2-year buy-to-let rates for individuals, with rates starting from 3.48% to 75% loan-to-value with a 2.5% product fee.

The lender is also offering an 80% LTV product at 3.88% with a 2.5% fee, a 75% LTV product at 3.98% with a £1,999 fee and an 80% LTV mortgage at 4.38% with a £1,999.

Aldermore also launched two products with no product fee and a £199 application fee, mortgages at 4.48% to 75% LTV and 4.88% to 80% LTV.

Charles Haresnape (pictured), 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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