For limited companies, new rates include a two-year fixed rate for purchase and remortgage at 4.99% with a 3% fee, available up to 75% LTV – a reduction of 0.40%.
Dan Clinton, head of specialist lending at TMW, says: “As one of the UK’s leading buy to let lenders, we continue to support landlords with a range of product options. We know that rate is a key consideration for those in the buy-to-let and limited company market as they try to manage their finances through fixed rates.”
Also coming into effect today are two new Aldermore BTL new products for landlords: a five-year fixed rate up to 65% loan to value with a 1.5% fee option, in addition to a five-year fixed rate up to 65% LTV fee free option.
For landlords with single residential investment properties, the bank offers a five-year fixed rate at 5.89% with no associated fee and another five-year fixed rate at 5.59% with a 1.50% fee. There is also an adjusted rate for a five-year fixed mortgage at 4.89%, which comes with a 5% fee, reflecting a 0.1% reduction from previous rates.
Multi-property portfolio landlords can enjoy new rates including a five-year fixed mortgage at 5.79% with no fee and a five-year fixed rate at 5.49% with a 1.50% fee. Additionally, an adjusted five-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, says: “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.”
Meanwhile for the second time this month, YBS Commercial Mortgages has madechanges to its specialist buy to let range. These include a 0.15% discount on the lender’s holiday lets and HMO products.
Landlord clients looking to purchase a property as a holiday let can now benefit from a five-year fixed rate of 5.75% (was 5.90%) on loans of up to £1.5m per unit, up to 75% LTV, which comes with a 2% fee.
For landlords looking for a product to fund a HMO purchase, now available is a five-year fix, competitively priced at 5.80% (was 5.95%) on loans over £500,000, up to 75% LTV, which also comes with a 2% fee.
There are no changes to the lender’s commercial investment products, which start from 6.99% on loans on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property, or to any other products in the lender’s range.
Tom Simpson, managing director at YBS Commercial Mortgages, comments: “We’re pleased to be able to reduce rates on our specialist buy-to-let range. This is especially pertinent given that in the current climate, rate rises have become the norm.
“This move demonstrates our continued commitment, as a strong, stable lending partner, to supporting brokers and their landlord clients with their specialist lending needs, passing on reductions wherever we can, and ensuring that we remain as competitive as possible.”
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Keep 👀 at the product fees sleight of hand. The cartel-like hike in fees across the industry makes 0.1% rate reductions pale into irrelevance.
Arrangement fees aren't getting out of control. I can remember when mortaged didn't have these arrangement fees the profit cam from the spread between depositers and lendee's. US brought these fees in which says it all
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