According to Aldermore, the new product is available at 3.68% up to 75% LTV with a £1,999 fee, no valuation or fund transfer fees, and assisted legal fees.
There are no background portfolio limits and multiple securities can be processed on one application.
Damian Thompson, director of mortgages at Aldermore, commented: “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.”
