Aldermore buy to let mortgage rates drop as its Libor is reset.
Aldermore's Keystone buy to let mortgage range is now cheaper.
Rates have been reduced by 0.30 per cent, a 3 year rate is now on offer at 4.98% if you have a 25% deposit.
The market is good for investors, the buy to let property sector has not suffered the down-turn experienced in the residential property sector. Lenders are keen to attract landlords looking to expand their property portfolio by offering cheaper and cheaper buy to let mortgage rates.
Looking to invest in a buy to let property? Contact Deal Direct for advice and a cheap rate quote.
For individual property purchases a Keystone discounted rate of 4.98% is offered for 75% loan to value. For multi-unit property purchases a rate of 5.08% is offered for 75% loan to value and for HMO property purchases a rate of 5.18% is offered for 75% loan to value.
The reduction in rates has been made possible through Aldermore's resetting of its LIBOR, which has been reduced from 1.05% to 0.75%. The lender has decided to pass on the full benefit by cutting its buy to let mortgage rates by the same amount.
A spokesperson on behalf of Aldermore commercial mortgages said that the Keystone products have been in high demand ever since their launch earlier in the year, adding that the range has become even more popular than expected. By cutting its rates Aldermore hopes to strengthen its position in the property investment mortgage market.
If you are looking to invest in property and would like a competitive buy to let offer you are advised to call Deal Direct.
Contact one of our advisers today for a quote.
