CHL Mortgages has announced an expansion of its CHL 1 buy-to-let (BTL) product range, introducing 55% loan-to-value (LTV) options and 5-year fixed rate products.
The new 2-year fixed interest rates are competitively set starting at 3.19%, with the 5-year fixed rates beginning at 4.67% for Standard Buy-to-Let products at up to 55% LTV, which carry a product fee of 7%. The HMO/MUFB products have equivalent rates of 3.21% and 4.73%.
CHL Mortgages is also offering higher LTVs for both Standard Buy-to-Let and HMO/MUFB properties, with rates ranging from 3.25% at 65% LTV to 4.55% at 75% LTV.
A range of product fees are available at 2%, 5%, and 7% to provide flexibility for their clients’ financial strategies.
Ross Turrell, commercial director of CHL Mortgages, expressed enthusiasm about the new offerings, stating: “We are delighted to announce that we have expanded our CHL 1 product range by re-introducing 5-year fixed products and added new 55% LTV bands.
“These additions have been made to help intermediaries better serve their clients’ needs.”
