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Aldermore refreshes proposition for residential and BTL mortgages

Martin Greenland | 07:28 Wednesday 17th October 2018

Aldermore has updated its proposition for residential and buy-to-let mortgages.

The specialist bank has made the following changes to its lending criteria:

Buy-to-let

  • lowering ICRs for basic rate tax payers
  • new-build flats up to 70% LTV for first-time landlords and 75% LTV for existing landlords
  • reducing minimum valuation on ex-public sector property (outside of Greater London)
  • increased maximum property land size from three to six acres

Residential

  • reducing minimum valuation on ex-public sector property (outside of Greater London) making them more accessible to first-time buyers
  • increased maximum property land size from three to six acres

Commenting on these changes, Damian Thompson, director of mortgages at Aldermore (pictured above), said that it was pleased to announce the latest updates to its proposition for residential and buy-to-let mortgages.

“The latest changes come at a time when it is vital to provide support in a challenging housing market – whether they are a first-time buyer with little or no deposit, or a landlord looking to invest in a new property or remortgage an existing one.

“At Aldermore, our human approach to lending enables us to consider each case on an individual basis so we can support a range of homebuyers.

“We pride ourselves on supporting individuals’ needs and aspirations and we are constantly looking to improve our proposition to do so.” 

Last month, Aldermore reduced its rates across its high LTV products.

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