Lender makes “significant improvement” in offer to landlords 

Specialist lender Aldermore says it’s made “significant improvements” to its buy to let products, with a specific focus on HMOs.

And it claims the changes reflect Aldermore’s commitment to “flexible criteria, case-by-case underwriting.”

The following are available immediately:

• Free valuations on single HMOs up to six beds (but this doesn’t apply to multi-property products);

• Lower interest cover ratio (ICR) thresholds to support affordability and borrowing potential (for HMOs, multi unit freeholds and residential investment properties);

• New tailored case management service to guide applications from start to finish;

• Flexible conveyancing with both managed and open panel options. Assisted legal fees are also available on remortgages; and

• Lending up to £2m at 65% LTV and £1.5m at 75% LTV (for HMOs & multi unit freeholds).

Jon Cooper, director of mortgages at Aldermore, comments:“We believe that this enhanced BTL proposition supports an increasing number of landlords who are moving into the HMO market. 

“These changes again demonstrate our ongoing commitment to accessible solutions, clear communication, and expert guidance at every stage of the application process.”

Meanwhile the Leek Building Society and Molo have announced updates to their buy-to-let propositions.

Leek has enhanced its limited company buy-to-let offering, with a focus on competitive fixed and discounted rate mortgages available up to 75% loan-to-value (LTV). 

Aimed at landlords operating through limited companies, the proposition caters to both portfolio and experienced landlords, with a flexible approach to lending criteria.

Molo has announced updated fixed rate pricing across its UK resident and expat buy-to-let ranges.

For UK-based landlords, five-year fixed rates now start from 4.44%, with 2-year fixed rates remaining at 2.83%. HMO and MUFB products begin at 3.03%.

This article is taken from Landlord Today