Aldermore launches remortgage product for landlords
Aldermore has launched a 5-year fixed remortgage product for individual and company landlords with single residential investment properties.
The product is available at 75% LTV and has an initial rate of 3.68%.
There are no valuation or fund transfer fees and multiple securities can be processed on one application.
The product comes with a £1,999 product fee.
Damian Thompson (pictured), director of mortgages at Aldermore, said: “We are pleased to announce our latest commitment to supporting landlord customers, as the private rented sector plays a pivotal role in the UK housing market.
“According to the latest BDRC data, nearly one third of landlords intend to remortgage within the next year, so at Aldermore we want to make sure we are providing products that align with landlords’ needs.
“The period of regulatory change in the sector has settled down now, so it is a good time for landlords to review their portfolios and look at how they want to manage them in the future.
“Our human approach to lending enables us to consider each application on individual merits, which gives us an opportunity to help as many people as we can with their borrowing needs.”