It offers deals for both standard properties and HMOs or MUFBs
Specialist buy-to-let lender CHL Mortgages has updated its product range, introducing varied fee options and loan-to-value (LTV) bandings to cater to different investor needs.
The new offerings include fee options of 2%, 3.5%, 5%, and 7% and LTV ratios of 55%, 65%, 70%, and 75%.
For those interested in short-term investments, the intermediary-only lender is offering two-year fixed rate mortgages starting at 3.41% for standard buy-to-let properties.
Rates for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) start slightly higher at 3.43%.
For longer-term planners, five-year fixed-rate mortgages begin at 4.76% for standard properties and 4.83% for HMO or MUFB products.
Interest coverage ratio (ICR) calculations for these products vary by term. The five-year fixed mortgages will use the pay rate for ICR calculations, while the two-year fixed products will apply a formula of 5.5% or the pay rate plus 2%, whichever is higher.
“Despite the recent increasing swap rates, we are still pleased to provide low-rate options to landlords which is a useful solution to assist with cashflow,” said Ross Turrell (pictured), commercial director at CHL Mortgages.
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