by Gary Webber
22. May 2010 14:16
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.