CHL Mortgages launches new buy-to-let range from 3.65%

Specialist buy-to-let lender, CHL Mortgages, has expanded its product offering, which is now organised into two distinct ranges: CHL 1 and CHL 2.

Sitting within CHL 1 as part of a new standard buy-to-let range, the headline rate of 3.65% is for a two-year fixed rate up to 65% LTV.

The standard buy-to-let range consolidates the previous individual and limited company ranges.

CHL 1 has been specially designed for customers with a clean credit history and consists of standard buy-to-let and small HMO/MUFB product types. A two-year fixed rate option is also available up to 70% LTV, with rates starting from 3.72%, and up to 75% LTV with rates from 4.90%. Five-year fixed rates in CHL 1 start from 5.10% up to 65% LTV, 5.14% up to 70% LTV, and 5.20% up to 75% LTV.

The CHL 2 product range has more flexible criteria that caters for a wider variety of clients and complex property types. It offers standard buy-to-let, small and large HMO/MUFB, short term lets, and the refurbishment range, which features cosmetic improvement, EPC improvement, and light refurbishment product types.

The two-year fixed rate products under CHL 2 are available from 5.40% up to 70% LTV, with a 75% LTV option starting from 6.42%. The five-year fixed rate equivalent starts from 5.27% up to 70% LTV and from 6.26% up to 75% LTV.

Product fees for CHL 1 are available in 2%, 5% and 7% options, while CHL 2 fee options are 2%, 3%, 5% and 7%.

Ross Turrell, commercial director at CHL Mortgages, commented: "We are pleased to announce a further reduction in our pricing and an expanded product range, enabling us to offer our intermediary partners greater choice for their clients. With the economy showing signs of recovery, we are confident that these changes will benefit landlords and affirm their optimism in a stabilising buy-to-let market.”