Aldermore announce a buy to let mortgage rate reduction.
The fear was that the changes to stamp duty and buy-to-let mortgages last April, might make investors think twice before buying property. To avoid a slump in this type of investment, the trend has been for lenders to drop their rates.
Aldermore is the latest to follow suit, offering a new low-priced fixed rate option to landlords on single residence purchases.
According to Aldermore, their deal is a limited edition, and the good news is it’s available for both new purchase and remortgage.
The offering is available for buy-to-let mortgages up to £1m and also includes:
- 2.99% interest rate
- 1.5% fee
- a 5 year fixed mortgage term
- loans up to 70% LTV
- £199 application fee
The mortgage market is moving quickly with rates and fees changing all the time. This can make looking for the right buy-to-let mortgage a very complicated business. For this reason, we recommend you use our impartial advisers at Deal Direct because we are best placed to source you a competitive deal.
We are regulated to offer independent mortgage advice but not general financial advice. Therefore, if you wish to discuss the suitability of property as a viable investment, we urge you to contact an independent financial adviser.
Please note:
Buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.
For free, impartial and ‘whole of market’ advice on the latest rate reductions, contact Deal Direct.
Speak to us today on 0800 048 8828.
