CHL launches first seven-year fixed rate

The lender has also increased its maximum LTV for individual and limited company borrowers to 80%, from 75%.

The seven-year fixed rate for individual and limited company applicants comes with two fee options. Up to 75% LTV, the 2% fee option is 3.25% and the 1% fee option is 3.45%. Up to the new maximum 80% LTV, the 2% fee option has a rate of 3.64% and the 1% fee option has a rate of 3.79%.

The seven-year fix for HMOs and multi-unit freehold blocks (MUFB) are available up to 75% LTV and also come with two fee options. The 2% fee option has a rate of 3.45% and the 1% fee option has a rate of 3.65%.

In addition, new two and five-year fixed rates up to 80% LTV are now available to both individual and limited company applicants with rates of 3.69% and 3.49% with a 2% fee. A 1% fee option is also available from 3.69% .

Ross Turrell, commercial director at CHL Mortgages, commented: “These products will nicely complement our existing buy-to-let range. They have been designed after listening to, and acting upon, feedback from intermediary partners who expressed a desire for additional choice and support when it comes to servicing the longer-term needs of their landlord clients in an uncertain interest rate environment.

“Choice is important when it comes to the length of product terms but also when it comes to delivering competitive products at the higher end of the LTV bands. These new additions provide great value to our overall product range.”