Aldermore cuts rates by up to 0.8%

Aldermore has cut rates on a number of its buy-to-let and NewBuy mortgages by up to 0.8 per cent from today.

On the buy-to-let range, the rate on the three-year fix up to 80 per cent LTV has been cut by 0.8 per cent from 5.78 per cent to 4.98 per cent with a 2.5 per cent completion fee.

A two-year fix on the NewBuy range has been cut by 0.69 per cent, from 5.48 per cent to 4.79 per cent for loans with a £999 completion fee.

Aldermore managing director of residential mortgages Charles Haresnape says: “The demand for buy-to-let continues apace, as some buyers struggle to buy homes of their own. With rents reaching record highs, landlords are looking for ways to increase their borrowing and also release equity so that they can add to their property portfolios.”

Aldermore Bank has lent more than £2bn since it opened in 2009.