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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