Aldermore has a limited range of buy-to-let products but is still doing up to 75% loan to value. Because physical valuations are not possible they are carrying out automated valuations for BTL single unit applications where possible. It has withdrawn all HMO and multi-unit freehold products up to six bedrooms or units which is expected to be temporary.
What they continue to offer:
- Incorporation to Limited Company.
- SPV and Trading Company Purchases – no SIC code restrictions.
- No minimum income or owner-occupier status for existing landlords.
- First Time Landlords £25,000 minimum income.
- Large portfolios.
What has been removed in the short term
- BTL > 75% LTV
- HMO / Multi-Unit under 1 title
- Re-mortgage within 6-month ownership
- Capital raising on BTL for an onward property. (transfer of title, equity buy out, home improvements, debt consolidation are still acceptable)