11:11 AM, 14th November 2019, About 4 years ago
Aldermore Specialist Bank, has launched a new 5 year fixed remortgage product for individual and company landlords with single residential investment properties. The move is to help landlords looking for long-term stability when managing their portfolios.
The product is now available:
75% loan-to-value (LTV), 5 year fixed initial rate 3.68%, with a product fee of £1,999.
No valuation or fund transfer fees, and assisted legal fees are available
No background portfolio limits
Multiple securities can be processed on one application
Remortgage and capital raise for business purposes up to 75%
Damian Thompson, Director of Mortgages, said: “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 data1, 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.”
1 Data from the Q3 2019 Landlords Panel report from BVA BDRC, undertaken in partnership with the National Landlords Association (NLA).
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