80% LTV 5 year fixed BTL at 3.99% for individuals or Ltd companies

by Neil Patterson

11:48 AM, 10th February 2016
About 3 years ago

80% LTV 5 year fixed BTL at 3.99% for individuals or Ltd companies

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80% LTV 5 year fixed BTL at 3.99% for individuals or Ltd companies

AldermoreAldermore have reduced their 5 year fixed Buy to Let rate to 3.99% for single residential units in the name of individuals or limited companies up to a maximum of 80% Loan to Value.

Aldermore do not credit score and every case is individually assessed by the underwriting team.

You can use all of the 80% LTV to raise capital and expand a property portfolio if you wish.

The completion fee is 2.5% which can be added to the loan and early repayment charges are 5% year 1, 4.5% year 2, 4% year 3, 3.5% year 4 and 3.5% year 5.

Criteria:

  • Stress tested at 3.99% and 125% interest cover for individuals. However, if the interest cover is less than 150% then rental and personal income may be taken into consideration.
  • Stress testing for companies is at 4.55% and as above
  • No minimum income requirement for existing Landlords
  • Maximum age 85 years at the end of the mortgage term
  • Maximum term 35 years
  • Minimum loan amount £25,000
  • Minimum property value £75,000
  • No HMOs or Multi Units

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