Specialist lender CHL Mortgages has announced a refresh of its buy-to-let range, including reduced rates and several new criteria enhancements.
The updated range, available from today, features lowered rates on 2-year fixed products starting from 2.87%, with reductions of up to 42 basis points (bps) and loan-to-value (LTV) ratios up to 75%.
Alongside the new rates, CHL Mortgages has introduced several criteria enhancements. These include increasing the maximum loan amount available at 70% LTV to £2m, raising aggregate borrower exposure to £5m with no limit on the number of individual loans, and increasing the LTV available for new-build flats and ex-local authority flats to 75%. Additionally, the lender is now accepting applications for properties on the Isle of Wight.
The refreshed range caters to individual landlords, limited companies, and HMO/MUFB landlords, providing a comprehensive suite of options for various borrower profiles.
Ross Turrell, commercial director at CHL Mortgages, said: “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.
“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.”
