The changes offer greater flexibility and choice, with new products, reduced rates and fee options available for landlords of all sizes.
The maximum term for lending has been increased from 35 years to 40.
The lender has also increased its maximum loan limits for both 75% LTV (from £600,000 to £1m) and 80% LTV (from £400,000 to £500,000).
In addition, all communication defaults are now ignored and small settled defaults from 13 to 36 months now accepted up to £500.
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Aldermore is also offering a series of new products, reduced rates and upfront fees to assist portfolio management, including:
- new fee-free limited edition five-year fixed rate products
- free valuation and assisted legal fees
- reduced HMO and multi-unit freehold products
Damian Thompson, group managing director of retail finance (subject to regulatory approval) at Aldermore (pictured above), said: “Landlords play a pivotal role in the UK housing market and, as the private rented sector continues to expand, it is important they have options and flexibility, so they can continue to provide for tenants.”
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