You are here: cherry > Press releases for July 2011 > Aldermore launches two new buy-to-let mortgages

04 July 2011

New British bank Aldermore has launched two new buy-to-let mortgage products: ?Limited Edition? term variable rate deal with a rate of 4.68% to 65% LTV or 4.98% to 75% LTV, for either purchase or remortgage (with a 2.75% completion fee) Fee free* remortgage deal with a 5-year fixed rate of 6.28% to 65% or 6.48% to 75% LTV. Charles Haresnape, Managing Director of Residential Mortgages at Aldermore, said: ?Our objective is to give buy-to-let investors real choice. ?Our Limited Edition deal offers a very competitive variable rate to property investors either wanting to buy or remortgage existing property. This option will appeal to borrowers who believe interest rates will remain low for the foreseeable future and who want to benefit from affordable monthly mortgage repayments.? The fee free remortgage deal will appeal to landlords who want to lock-in both their rate and yield for the next 5 years, without incurring any up-front costs. This product makes remortgaging very easy for owners of rental property who may be concerned about future rate rises. Ben Thompson, Managing Director Legal & General Mortgage Club, said: ?Aldermore has covered both bases with these two excellent buy-to-let deals designed to appeal to landlords at a time of great interest rate uncertainty. It doesn?t matter if landlords are seeking a low-cost remortgage deal or low monthly repayments, Aldermore has a product for them.? In addition to these two new products, Aldermore also offers landlords a choice of a two year discount and two, three and five year fixed rates, all of which are available for either purchase or remortgage. Full product details, including rates, criteria and a downloadable product guide, are available at: www.aldermore-mortgages.co.uk or brokers can contact Aldermore on 0333 3211000. Aldermore markets its residential mortgages exclusively via regulated intermediaries and, unlike most other lenders, decision-making is not dependent on credit scoring but is based on sensible underwriting rules and criteria applied by experienced staff. **ends**

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