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 – Pricing/criteria changes
I am delighted to announce we will be expanding the current BTL product suite to offer a range of 7 year fixed rates and 80% LTV products from tomorrow, Friday 18th February.
The new product and criteria guides are attached for reference, however I have summarised the key changes/highlights below:
Individuals/Ltd Company products
- Pricing of existing products held
- Introduction of 7 year fixed rate options
- Introduction of 80% LTV products with 2 year, 5 year and 7 year fixed rate options
HMO products
- Pricing of existing products held
- Introduction of 7 year fixed rate options
High level criteria summary in respect of 80% LTV lending
- 80% LTV up to a maximum loan of £500,000 on a single property
- Aggregate exposure limits of <= £1m up to 80% LTV and >£1m to £5m up to 75% LTV
- 80% LTV available against ‘standard’ freehold and leasehold properties. Any construction type highlighted by our valuer as non-standard will be restricted to a maximum 75% LTV.
- Non-standard property construction max LTV of 75%
- Above/adjacent to commercial property max LTV of 75%
- MUFB/HMO maximum LTV of 75%