Spotlight on Aldermore Bank’s portfolio / multi property mortgage product
Posted on 18th February 2025 at 13:29
A ‘one loan-account fits all’ approach is not for everyone, but how much do you know about Aldermore’s proposition and how it helps a portfolio landlord to refinance, cut remortgaging costs, simplify the DD management and manage the LTV across all assets?
Submitting multi property buy to let portfolios on one application is ideal for individual and company landlords who want the convenience of managing their portfolio on one mortgage account.
One mortgage account, which means one Direct Debit payment and one maturity date for the whole portfolio.
One blended LTV across all valuations.
One combined stress test across all properties.
Free valuations on all standard properties.
Low fees. Aldermore have fixed fee, percentage, and no fee products on offer to choose from.
Assisted legal package on remortgages.
For limited company personal guarantees, Aldermore only charge per director, per application, rather than per property, which could reduce costs substantially.
Properties can be released from the portfolio subject to any applicable ERCs per property only. The portfolio will require re-weighting to ensure the original LTV, interest cover ratio, and any loan covenants continue to be met.
Properties in England, Scotland and Wales only. Scottish properties cannot be mixed with properties located in other regions, so require a separate application.
From 2, up to 30 properties, can be included in this one arrangement. Lending to SPV’s and trading companies, helps property professionals to structure their business in a flexible way too.
Case study example; if you are remortgaging, say, 10 BTL’s and paying the typical lenders arrangement fee of 3% per property, and using an example mortgage amount of £200,000 each, that’s a total of (3%x £200,000) x 10 = £60,000 in lenders fees alone! ….. Or, Aldermore do have a product with just a flat fee – across the whole deal – of just £1999. That’s a potential £58,000 saving just on fees!
Plus … free valuations, one DD, capital raising possible and product transfer options in the future too, the portfolio product from Aldermore (available only via Brokers) is an excellent business strategy for the right property investor.
Are you eligible? Contact us for details
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