Aldermore has introduced rate reductions across both its buy-to-let (BTL) and residential owner-occupied mortgages, while relaunching a number of 95% loan-to-value (LTV) products.
The lender cut rates by 0.50% across BTL and residential owner-occupied products.
In its residential owner-occupied range, all fixed rates were reduced by 0.50% for new customers and up to 0.50% for existing customers.
Rates will begin from 5.04%, including LTVs up to 95%.
Aldermore also increased maximum LTVs to 90% for houses, 85% for flats, and 85% for remortgages with capital raising for non-property related purposes.
As part of its BTL range, individual and company landlords with single residential investment properties will see all fixed rates reduced by 0.50% for new customers and up to 0.50% for existing customers.
Rates will start from 4.29% with LTVs up to 75%.
For houses in multiple occupation (HMO) and multi-unit freehold (MUFBs), all fixed rates will be reduced by 0.50% for new customers and up to 0.50% for existing customers.
Rates in this range will start from 4.79% and include LTVs up to 75%.
Jon Cooper, head of mortgages at Aldermore, said: “We’re still only in January but 2024 has already seen major shifts in the property market.
“Lenders across the board are doing their utmost to react to a competitive rate environment.
“Aldermore has taken time to assess the market changes thoroughly and analyse how to best serve our borrowers.
“As a result, we’re now pleased to introduce these major rate reductions, as well as back customers at 95% LTV where there are limited options available in today’s marketplace.
“We hope that these improvements continue to enable our broker partners to support both landlords and owner occupier customers with their property aspirations.”
The new rates will be effective from tomorrow, Tuesday 16th January.
