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TODAY'S OTHER NEWS

Aldermore Bank cuts two-year fixed rate mortgages

Aldermore, a retail bank which specialises in providing financial services to small and medium sized businesses, has cut its buy-to-let range of two-year fixed rate mortgages by up to 0.38 percentage points.

The two-year fixed rate mortgages (with a 2.5% completion fee) were previously 4.48%. They now start from 4.18% for 70% and 75% loan to value mortgages. The new rate for 80% LTVs is 4.68% with a 2.5% completion fee, down from 4.78%.

Two-year fixed mortgages, with a £1,999 completion fee, have been cut from 4.98% to 4.68% on 70% and 75% LTVs.

“Buy-to-let is a thriving sector of the housing market,” said Charles Haresnape, managing director of mortgages and commercial lending at Aldermore.

“We have made these changes to keep pace with demand and ensure our products are attractive to our customers in this very competitive market.”

He added: “Aldermore has developed clear expertise in the buy-to-let market due to our commitment to support a wide range of customer needs, from the simple to complex. These changes further highlight our commitment to the buy-to-let market, which we believe will continue to flourish in the post-election and pension freedoms environment.”

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