CHL Mortgages introduces new buy-to-let rates starting at 3.65%

CHL Mortgages has revised its product range, presenting two distinct lines, CHL 1 and CHL 2, with a headline 2-year fixed rate starting at 3.65% up to 65% LTV within the new Standard Buy-to-Let range. This change aims to streamline previous individual and company offerings, providing a comprehensive selection for a broader customer base.

CHL 1 is crafted for those with a clean credit history, featuring Standard Buy-to-Let and Small HMO/MUFB products. The 2-year fixed rates in this category begin at 3.72% for up to 70% LTV and 4.90% for up to 75% LTV. The 5-year options start at 5.10% for 65% LTV, with incremental rates up to 75% LTV.

Alternatively, CHL 2 addresses a more diverse client group and complex properties, extending beyond Standard Buy-to-Let to include Short Term Lets and Refurbishment ranges. Its 2-year fixed rates are available from 5.40% up to 70% LTV, and for 75% LTV starting from 6.42%, with 5-year rates from 5.27% up to 70% LTV and 6.26% up to 75% LTV.

Fees for CHL 1 range between 2% to 7%, while CHL 2 adds a 3% option alongside the standard 2%, 5%, and 7%.

Ross Turrell, commercial director at CHL Mortgages, commented on the update: “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.”