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Aldermore extends let-to-buy criteria

Aldermore has revamped its let-to-buy criteria, allowing borrowers to purchase a new property while retaining their old property as a buy-to-let.

Previously, the lender simply allowed the borrower to remortgage their property onto a buy-to-let mortgage.

The purchase of the new property will be capped at a maximum LTV of 80 per cent.

Further, the lender has extended its family gifted deposit criteria to cover additional family members (aunts and uncles) and foster parents or legal guardians.

Aldermore group managing director of mortgages Charles Haresnape says: “These changes provide greater flexibility for borrowers and are part of our commitment to continually improve our products and services for all mortgage customers.

“Extending our let-to-buy mortgage offering is a key milestone in Aldermore’s development. It allows home owners that wish to move, but who do not want to sell their house or are unable to, to purchase another property.”



EU referendum words to change

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FCA rules out proc fee ban in upcoming mortgage reviews

The FCA has ruled out a ban on commission in its upcoming mortgage market and advice reviews. Over the next year the regulator will conduct three reviews of the mortgage market: a post-MMR responsible lending review; a more general review of the mortgage market to see if it is working effectively; and a review into […]


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The proposed changes to EU rules on hedging instruments could mean fixed-rate mortgages cease from small lenders. The reason is that most lenders have to hedge interest rate exposure to ensure they can fix funding costs to match the fixed-rate income of the mortgage. The proposed changes will make it hard and expensive for smaller […]


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