CHL Mortgages has reduced the cost of its buy-to-let mortgage range by up to 42bps, and enhanced criteria on a number of products.
As a result of these cuts its two-year fixed-rate products will now start from 2.87%. Its BTL range is available up to 75% LTV with a choice of fee options.
The specialist lender has made a number of changes to its lending terms. It is increasing the maximum loan amount up to £2m at 70% LTV. It is also increasing aggregate borrower exposure to £5m, with no limit on the number of individual loans.
Meanwhile, CHL Mortgages has increased the LTV available on new-build flats and ex local authority flats to 75% LTV. It is also for the first time also accepting applications for properties on the Isle of Wight.
These changes are all effective from today. This BTL range is available to individual, limited company and HMO/ MUFB landlords.
CHL Mortgages commercial director Ross Turrell says: “There aren’t many 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 those who don’t want to lock into a long-term mortgage.”
He adds that the firms recent acquisition by Chetwood Financial was enabling it to expand its offering to the lender’s intermediary partners.
