Aldermore and CHL announce BTL rate reductions

Aldermore has revealed a series of buy to let interest rate reductions for both new and current clients.

For new BTL customers, individual and company landlords acquiring single residential investment properties can access two-year fixed rates (up to 75% LTV) from 4.69% (a 0.40% decrease) and five-year fixed rates (up to 75% LTV) from 4.59% (a 0.30% decrease).

Limited edition five-year fixed rates (up to 75% LTV) are now available from 4.74% (a 0.25% decrease) with varied fee choices.

Those purchasing multiple residential investment properties (for individual and company landlords) can secure two-year fixed rates (up to 75% LTV) from 4.74% (a 0.40% reduction) and five-year fixed rates (up to 75% LTV) from 4.54% (a 0.30% reduction).

Limited edition five-year fixed rates (up to 75% LTV) start at 4.69% (a 0.25% reduction), also with several fee options.

BTL mortgages for HMOs and multi-unit freeholds

Aldermore is also offering for HMOs (up to six bedrooms) and multi-unit freeholds (up to four units, including multi-property purchases), two-year fixed rates (up to 75% LTV) are available from 4.94% (a 0.40% decrease) and five-year fixed rates (up to 75% LTV) from 4.74% (a 0.30% decrease).

Existing BTL customers (individual and company landlords with single residential investment properties) can benefit from two-year fixed limited editions (up to 70% LTV) at 6.19% (a 0.30% decrease), two-year fixed rates (up to 85% LTV) from 6.29% (a 0.40% decrease), and five-year fixed rates (up to 85% LTV) from 5.99% (a 0.30% decrease).

For existing clients with HMOs (up to six bedrooms) and multi-unit freeholds (up to four units, including multi-property), two-year fixed rates (up to 80% LTV) are available from 6.49% (a 0.40% decrease) and five-year fixed rates (up to 80% LTV) from 6.19% (a 0.30% decrease).

Existing customers with large HMOs (seven bedrooms plus) and multi-unit freeholds (five units plus, including multi-property) can access two-year fixed rates (up to 80% LTV) from 7.89% (a 0.40% decrease) and five-year fixed rates (up to 80% LTV) from 7.69% (a 0.30% decrease).

CHL has cut rates on short-term lets

Meanwhile, CHL Mortgages for Intermediaries has announced rate cuts of up to 1.19% on its short-term lets range, suitable for holiday lets and serviced apartments.

Two-year fixed rates begin at 4.39% and five-year fixed rates start at 5.24%, both at 75% LTV. Fee options are available.

Ross Turrell, CHL’s commercial director at CHL Mortgages, said: “We believe this rate reduction will support landlords looking to diversify their portfolios and explore other investment opportunities.

“With people starting to think about their summer holidays, holiday lets and serviced apartments are a great alternative to hotels and let people stay in the location of their choice, while enjoying high quality self-catering accommodation.”

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