CHL cuts buy-to-let rates by up to 0.42% and enhances criteria

CHL Mortgages is refreshing its buy-to-let range, including lowering rates across its two-year fixed products which now start from 2.87%, and introducing a number of criteria enhancements.

The refreshed range will see rates on two-year fixed-rate products reduced by up to 42bps, with LTVs up to 75% and a choice of product fee options.

The lender has also introduced a number of criteria enhancements, including:

• Increasing the maximum loan amount available at 70% LTV to £2m.
• Increasing aggregate borrower exposure to £5m with no limit on the number of individual loans.
• Increasing the LTV available for new-build flats to 75%.
• Increasing the LTV available for ex local authority flats to 75%.
• Accepting applications for properties on the Isle of Wight.

The range is suitable for individual, limited company and HMO/MUFB landlords.

Ross Turrell, commercial director at CHL Mortgages, said: “This range refresh is the latest example of how committed we are to supporting intermediaries in helping their landlord clients achieve their buy to let ambitions.

“There aren’t many other deals out there at the moment where the rate starts with a ‘2’, and with the potential for the bank base rate to reduce in the coming months, our repriced two-year fixed rate products could be ideal for those who don’t want to lock into a long-term mortgage.

“It’s another positive demonstration of how our recent acquisition by Chetwood Financial is adding value and helping us to expand our offering to our intermediary partners.”