Aldermore has made updates to its buy-to-let mortgage offerings, coming in to effect tomorrow (26th March 2024).

The bank is introducing two new mortgage products for landlords, aimed at those with up to 65% loan-to-value needs.

These products include a 5-year fixed rate mortgage with a 1.5% fee and a fee-free option, both catering to the financial needs of individual and corporate landlords who have either single or multiple residential investment properties.

In addition to these new products, Aldermore has also made a reduction in the rates of its existing 5-year fixed rate mortgage product at 65% LTV. This adjustment is marked by a rate cut of 0.1%, further enhancing the affordability of its mortgage offerings.

For landlords with single residential investment properties, the bank offers a 5-year fixed rate at 5.89% with no associated fee and another 5-year fixed rate at 5.59% with a 1.50% fee. There is also an adjusted rate for a 5-year fixed mortgage at 4.89%, which comes with a 5% fee, reflecting a 0.1% reduction from previous rates.

Landlords managing multi-property portfolios are also catered for, with new rates including a 5-year fixed mortgage at 5.79% with no fee and a 5-year fixed rate at 5.49% with a 1.50% fee. Additionally, an adjusted 5-year fixed rate at 4.79% with a 5% fee is available, showcasing a rate reduction of 0.1%.

Jon Cooper, head of mortgages at Aldermore, said: “At Aldermore, we continually review our mortgage range against the current market environment, and we always seek feedback from brokers on what their clients really need from their lender. We’re pleased to introduce our latest wave of limited edition products with this in mind, alongside a couple of targeted rate reductions to help more borrowers find the mortgage that’s right for them.”