Aldermore cuts residential and buy-to-let rates by up to 0.35%

Aldermore has announced rate reductions across both its residential and buy-to-let ranges for new and existing customers.

For new customers, all residential Level 1 fixed rates have reduced by 0.10% up to 80% LTV, with rates from 5.19%, and by up to 0.20% at 80-95% LTV, now starting from 5.74%.

All Level 2 and 3 fixed rates up to 80% LTV have been cut by 0.20%, starting from 5.59%, while all Level 2 rates above 80% LTV have reduced by up to 0.25%, now available from 6.19%.

In Aldermore's buy-to-let range, two-year fixed rates have reduced by up to 0.20% across zero fee, 1.50%, 3% and 5% fee options, with rates from 3.49%.

Five-year fixed rates have decreased by up to 0.25%, with zero fee, 1.50%, 5%, 7% and £1,999 fee options, now starting from 4.34%.

For multi property products, two and five-year fixed rates have also reduced by up to 0.25% across varying fee options, with two-year rates now starting at 3.44% and five-year fixes from 4.29%.

HMO and multi unit freehold two and five-year fixed rates are down by up to 0.35% across various fee options, with two-year fixed rates starting from 3.69% and five-year fixes from 4.44%. Multi property alternative rates start from 3.64% and 4.39% respectively.

For existing customers switching products, residential two and five-year standard fixed rates have reduced by up 0.10%, starting from 5.39%, while high-LTV rates are down by up to 0.20% to start from 5.94%.

Buy-to-let switcher rates have reduced by 0.20%, starting from 5.79%, while HMO and multi unit freehold products are down by 0.30% to start from 5.89%.

Jon Cooper, director of mortgages at Aldermore, commented: “We know it’s a competitive market right now and lenders must be proactive if they want to win business from brokers. The latest changes to our BTL range are designed to support landlords at every stage of their journey, from first-time investors to experienced portfolio holders, while our broader mortgage range continues to help residential customers find the right solution for their homeownership needs.”