Aldermore slashes two year buy to let deals

Aldermore has cut its two year fixed rate mortgage deals by up to 30 basis points, making a 75 per cent loan to value mortgage available at 4.18 per cent

The same rate of 4.18 per cent is also available at 70 per cent loan to value while 80 per cent loan to value products are accompanied with slightly higher 4.68 per cent rates.

The latter represents a cut of 10 basis points while many of the deals are available with a 2.5 per cent completion fee.

Keeping pace

Two year fixed rate products with higher rates are also available from the bank alongside a £1,999 completion fee and with a rate of 4.68 per cent on a 70 per cent loan to value.

A two year fixed rate deal to 75 per cent also has a rate of 4.68 per cent while Aldermore is offering 5.18 per cent rates on 80 per loan to value mortgages.

Charles Haresnape, Managing Director of Mortgage and Commercial Lending at Aldermore, described buy to let as the “thriving sector of the housing market”.

“We have made these changes to keep pace with demand and ensure our products are attractive to customers in a very competitive market,” he explained.

“Aldermore has developed clear expertise in the buy to let market due to our commitment to support a wide range of customer needs, from simple to complex.”

Mr Haresnape added that the changes reflect the company’s commitment to the market and suggested that it will “continue to flourish” in the months ahead.

The deals represent further opportunities for landlords and investors who are considering expanding their portfolio under current market conditions.