Aldermore Bank have recently refreshed their buy to let rates and terms. I asked my mortgage broker what he thought and what the interesting features are for buy to let landlords within the Aldermore product range.
His response was:-
Features of the Aldermore Bank Buy to Let Offerings
- no minimum income (unless a first time landlord)
- rental income accepted as sole income
- maximum age 85
- BTL loan affordability based on 100% of pay rate (rather than a higher reversionary rate that others use)
- no limit of ‘background’ BTL’s
- available for purchase AND remo up to 80%LTV
- maximum 5 Buy to Let properties (plus 1 residential property), subject to a maximum total exposure of £2m with Aldermore mortgages
- sadly though – England and Wales only at the moment (a strong whisper is that Scotland will be added soon)
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About Mark Alexander
Mark and his family have been investing in property since 1989, initially in the Norwich area but more recently across the length and breadth of England. Mark created Property118.com as a social network for landlords with a vision of becoming the UK's best respected online property community. Mark is also a freelance internet marketing consultant to law firms Email - email@example.com