Expanded range includes rates 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.
According to the lender, the expansion provides a more comprehensive set of products that caters for a wider variety of customer situations.
It explained that CHL 1 has been specially designed for customers with a clean credit history and consists of standard buy-to-let and small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) product types.
The CHL 2 product range has more flexible criteria that caters for a wider variety of clients and complex property types. It offers a comprehensive set of product options, including standard buy-to-let, small and large HMO and MUFB, short term lets, and the refurbishment range, which features cosmetic improvement, EPC improvement, and light refurbishment product types.
Rates as low as 3.65% for a two-year fix up to 65% loan-to-value (LTV) sit within CHL 1 as part of the lender’s new standard buy-to-let range, which consolidates the previous individuals and limited company ranges. The 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 starting 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.
Under CHL 2, the two-year fixed rate products 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%.
“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,” stated Ross Turrell (pictured), commercial director at CHL Mortgages.
“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.”
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