CHL Mortgages adds new LTV tranches

CHL Mortgages introduced a series of products in new loan-to-value (LTV) bands, reduced rates on existing agreements and 2-year fixed rate options for homeowners.

Rates now start from 2.69% on lenders’ 5-year fixed rate buy-to-let (BTL) product line (up to 50% LTV) and from 2.85% up to 75 % LTV.

Both are available on both Personal and Limited Liability Company offers with product fees ranging from 1.25% to 2%.

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A 2.93% 2-year fixed rate at 60% LTV and a 2.99% 2-year fixed rate at 70% LTV were introduced to replace the old BTL 2-year 65% and 75% LTV products.

Both are available for the Personal and Limited Liability Company lines, with a 2% product charge.

The lender’s line of multi-occupancy houses (HMOs) and freehold multi-unit (MUFB) blocks of the lender also saw the introduction of several new products as well as rate reductions on existing LTV bands.

5-year fixed rates start from 2.94% to 50% LTV and 3.15% to 75% LTV.

This range also includes a 0% to 65% product charge option and 75% LTV for 2 year fixed products.

Ross Turrell, Commercial Director of CHL Mortgages, said: “The specialty BTL market continues to experience sustained levels of interest and demand from investors, developers and homeowners looking to take advantage of the growing demand for tenants and a highly competitive lending environment.

“Which means lenders must constantly evaluate their product offerings to meet their ever-changing needs.

“We expect these positive changes to be welcomed by our growing distribution base and will attract even more companies to bolster what has been an extremely encouraging first half in the specialist lending arena. ‘purchase and rental. “

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