Brokers Review of Aldermore Bank’s Buy to Let Mortgages

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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