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Aldermore Introduces New Buy to Let Mortgage Options

Aldermore Bank has announced the launch of its latest range of mortgage products tailored for both buy to let landlords and residential owner-occupiers. The new offerings include five-year fixed rates for buy to let products, as well as three and five-year fixed rates for residential owner-occupied mortgages.

For buy to let customers, Aldermore presents two options:

  • A buy to let mortgage tailored for individual and company landlords with single residential investment properties, offered at a rate of 5.09% and available up to 75% loan-to-value (LTV).
  • A multi-property buy to let product for individual and company landlords managing multiple residential investment properties, also available at 5.09% up to 75% LTV.

For residential owner-occupiers, the bank provides:

  • A three-year fixed mortgage option, available from 65% to 90% LTV, with the choice of a £999 fee or a zero fee.
  • A five-year fixed mortgage, also ranging from 65% to 90% LTV, accompanied by a £1,999 fee option.

Additionally, Aldermore has made a significant change to its lending policy by increasing the maximum lending age limit to 75. This adjustment aims to offer greater support to individuals amid the current cost of living pressures, enabling more customers to purchase and finance homes.

Jon Cooper, head of mortgages at Aldermore, emphasizes the bank’s commitment to meeting the needs of its customers: “We know landlords and homeowners can often be overlooked by high street lenders, so it’s important to ensure they have choice when it comes to finding a mortgage that is right for them. At Aldermore, we continually review our product range and affordability measures to ensure we can best support our customers and their needs and that’s why we’ve also increased our maximum borrowing age to 75.”