CHL Mortgages has updated its product and criteria, the details are below. These products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
CHL Mortgages cuts BTL fixed rates by up to 0.50%
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has reduced its rates across all 5-year and 2-year fixed rate buy-to-let (BTL) mortgages by up to 0.50%.
A 0.45% reduction has been applied to 5-year fixed rate Individual and Limited Company/LLP products, now at 6.19%.HMO/MUFB 5-year fixed rate products are reduced by 0.50%.
Small HMO/MUFB (for up to 6 bedrooms/units) now has a rate of 6.24%, while the rate for the large HMO/MUFB product (for up to 10 bedrooms/units) sits at 6.29%.
The 5-year short-term-let fixed rate product has also reduced by 0.50% and is now 6.24%.
A cut of 0.45% has been applied to all 5-year fixed rate products in the Refurbishment range, with rates starting from 6.29%. The 2-year fixed Refurbishment products are reduced by 0.40%, with rates now starting from 6.30%.
All 5-year fixed rate products are available to a maximum of 70% LTV, with a 3% product fee and have an ERC percentage of 5/4/3/2/1. The 2-year fixed Refurbishment products are also available to a maximum of 70% LTV, with a 3% product fee, with the ERC percentage, in this case, being 3/2.
Pricing of the Lifetime Tracker products in the Refurbishment range remains unchanged.
New Core Product Range
Individuals & Limited Companies/LLP:
- 5-year fixed interest rate of 6.19%
Small HMOs & MUFBs:
- 5-year fixed interest rate of 6.24%
Large HMOs & MUFBs:
- 5-year fixed interest rate of 6.29%
Short Term Lets:
- 5-year fixed interest rate of 6.24%
New Refurbishment Product Range
Light Refurbishment
- 5-year fixed interest rate of 6.34% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.35% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.39% (Small HMO/MUFB)
- 2-year fixed interest rate of 6.40% (Small HMO/MUFB)
EPC Improvement
- 5-year fixed interest rate 6.34% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.35% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.39% (Small HMO/MUFB)
2-year fixed interest rate of 6.40% (Small HMO/MUFB)
Cosmetic Improvement
- 5-year fixed interest rate of 6.29% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.30% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.34% (Small HMO/MUFB)
- 2-year fixed interest rate of 6.35% (Small HMO/MUFB)
The full CHL Mortgages product range caters for first-time landlords, portfolio landlords, limited companies and LLPs covering a variety of BTL investments, including HMOs and MUFBs.