CHL Mortgages lowers BTL rates and enhances criteria

Two-year fixes now start from 2.87%

CHL Mortgages lowers BTL rates and enhances criteria

Specialist lender CHL Mortgages is updating its buy-to-let range, reducing rates on two-year fixes to start from 2.87% and introducing several criteria enhancements.

Effective from today, June 14, the refreshed range features rate reductions of up to 42 basis points on two-year fixed rate products with loan-to-value (LTV) ratios of up to 75%. Borrowers can choose from various product fee options.

CHL Mortgages has also implemented several criteria enhancements, which include increasing the maximum loan amount available at 70% LTV to £2 million, raising aggregate borrower exposure to £5 million with no limit on the number of individual loans, increasing the LTV available for new-build flats to 75%, raising the LTV available for ex-local authority flats to 75%, and accepting applications for properties on the Isle of Wight.

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

“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,” said Ross Turrell (pictured), commercial director at CHL Mortgages.

 “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.”

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