Aldermore relaunches BTL mortgage proposition
Aldermore Bank has relaunched its buy-to-let proposition.
Lending criteria changes include longer terms, with the maximum term extended from 35 to 40 years and maximum loan limits increased on 75% and 80% LTV.
Aldermore is also now ignoring communications defaults.
There are also new fee-free limited edition 5-year fixed rate products that have been added, including a fee-free remortgage from 3.48% for individual landlords with single residential investment properties.
Aldermore has added new products for portfolio up to £5m and reduced HMO and multi-unit freehold products.
Damian Thompson, group managing director – retail finance at Aldermore, said:“Landlords play a pivotal role in the UK housing market and, as the private rented sector continues to expand, it is important they have options and flexibility, so they can continue to provide for tenants.
“We are pleased to announce our latest commitment to supporting landlords, providing them with more choice, more flexibility and more options.
“We know landlords have varied and often complex portfolios that frequently do not fit in the boxes other lenders require them to fit in.
“We have listened to feedback from landlords and intermediaries, and this expansion of options gives us more opportunity to support landlords to find the mortgage that is right for them, whatever their circumstances.”