Aldermore Bank is set to reintroduce its residential owner-occupied and buy-to-let (BTL) mortgages for both new and existing customers from Friday, 21st July.
The lender is also launching a new product under its BTL portfolio, a 5-year fixed rate with a 3.00% fee for up to 75% Loan-to-Value (LTV).
The BTL rates on offer from the said date are varied and designed to cater to different types of landlords. For individual landlords with single residential investment properties, rates will range from a 2-year discounted rate with a £1,999 fee at 6.23% to a new 5-year fixed rate with a 3.00% fee at 6.79%, both up to 75% LTV. Similar options are available for company landlords, with the same rate for properties with an EPC rating of A, B, or C, and for larger HMOs and multi-unit freeholds.
Furthermore, Aldermore’s product switch ranges for existing customers will be offered at no fee across the board. This includes rates from 7.34% to 7.99% for residential owner-occupied standard, high LTV, and Help to Buy: equity loan schemes.
The BTL rates for individual and company landlords with single residential investment properties, and for HMOs and multi-unit freeholds, will also be offered with zero fees.
Residential owner-occupied mortgages have also been introduced with two fixed-rate terms — 2 and 5 years — and a range of LTV ratios. Rates range from 7.34% to 8.59% for the 2-year fixed-rate term and from 7.14% to 8.09% for the 5-year fixed-rate term, up to an 80% LTV ratio.
Jon Cooper, head of mortgages at Aldermore, said: “We’re pleased to be back in the market with our buy-to-let and residential owner-occupied mortgages, helping both new and existing customers to achieve their property aspirations.” He added that Aldermore’s goal is to continue supporting customers who may have been overlooked by high street banks.
