The UK buy-to-let market must have signs of life, strong enough to be perceived even from overseas, because – hot on the heels of the Aldermore news – a new lender has entered the market this week.

Precise Mortgages is the trade name of a new mortgage venture backed by American private equity. The backers are NY-based investment firm Elliott Associates, recently linked with a bid for IT technology company Novell.

Starting this month (May 2010), they'll be offering three different buy-to-let mortgages, starting from a rate of 5.79 per cent at 75% loan to value. That rate is devised by adding 5.15 to LIBOR over a two-year tracker deal.

A downside for larger value loans is the 2.5 per cent arrangement fee, which needs to be paid straight up – rather than added to the loan – which will eat into the deposit a little. And this new venture won't appeal to professional landlords yet, as there is a limit of one property per investor. New-build properties are also disallowed.

Precise Mortgages has not unveiled any owner-occupier mortgages, but if you're a buy-to-let property investor this will add to your options. You'll have to arrange a quote through one of their panel of intermediaries, which includes L&G Mortgage Club, Mortgage Intelligence and Mortgage Next.

A new lender enters the UK mortgage market this week, making the most of all the savings money it has accumulated in the last 9 months.

The new entrant is Aldermore Bank. It's not a new entity: formerly known as Ruffler Bank, which for three decades lent mainly to businesses importing gaming machines from overseas, the bank was taken over last year by the venture capital firm AnaCap Financial Partners. With it came a name-change, and Aldermore Bank started offering saving accounts in summer 2009, making a name for itself with several best-buy table appearances on fixed term savings bonds.

Now, the bank has started lending on residential mortgages – including buy-to-let.

Buy-to-let investors who don't mind chancing it on the base rate might try their two-year discount mortgage from 4.98 per cent. Three and five-year fixed rates are available from 5.78 per cent. Excluded are new build homes and multiple property purchases.

To obtain an Aldermore mortgage means going through one of their intermediaries: L&G Mortgage Club and Mortgage Intelligence are among the names, as is Mortgages for Business.