Aldermore allowing up to 30 buy-to-let properties on application with one monthly payment

by Aaron Strutt

Sep 01 2021

Aldermore for Intermediaries has a range of multi-property products allowing up to 30 buy-to-let properties on an application with one monthly payment. 

The lender provides mortgages on all sorts of properties, from flats and houses to ex-local authority for individual landlords or those operating through limited companies. 

Single property applications are allowed up to £1m, and for portfolios, they will lend up to £5m. There are options for individuals, Special Purpose Vehicles (SPVs), Limited Liability Partnerships and existing trading companies, with the same rates applied to all borrower types. The lender does not set background property portfolio limits. 

Aaron Strutt, product director at Trinity Financial, says: "We regularly speak to landlords who are keen to make their property portfolios easier to manage. Aldermore's product enables them to have one rate across their property portfolio, so there is only one remortgage or rate switch date. There is one direct debit and one account number, plus one annual statement. 

"Aldermore's product will not be suitable for all landlords because the rates start from 3% and they have 1.5% arrangement fees. While it is likely to be cheaper to have multiple mortgages across different lenders, some landlords do not like to remortgage constantly."

The lender provides free valuations and free or assisted legals on all remortgage applications, top-slicing to allow personal income to support rental and manual underwriting on all applications.

Properties can be released from the portfolio subject to any applicable early repayment charges. However, the portfolio may well require re-weighting to ensure the original loan to value, interest cover ratio, and any loan covenants continue to be met.

Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage or book a consultation