Aldermore buy to let mortgage LTV increased to 80 per cent
With immediate effect, Aldermore has increased the maximum buy to let mortgage LTV to 80 per cent, this increase covers its range of residential fixed rates.
The lender has also reduced its 2 year discount rates, 3 year fixed rate mortgage and 5 year fixed rate mortgage and its buy to let reversion rates, all of which will result in a more generous rental calculation for many borrowers.
Key features of Aldermore buy to let mortgage products include LTVs available up to 80 per cent and reversion rates reduced by 0.5 per cent. The maximum portfolio size has increased to 5 properties and £2 million and the maximum age at the end of the mortgage term is 85 years.
Charles Haresnape, Managing Director of Residential Mortgages at Aldermore, said: “We’re very comfortable with the way our buy to let mortgage portfolio is performing and feel the time is now right to strengthen our range. "These enhancements to both criteria and rates will ensure Aldermore’s residential buy-to-let products are amongst the most competitive available and I have no doubt they will be popular with both brokers and their clients.”
