CHL Mortgages Reduces BTL Rates

CHL Mortgages, the intermediary-only specialist buy-to-let lender, has reduced rates across its entire product range catering for individuals, limited companies and HMOs/MUFBs.

Rates now start from 2.88 per cent on the lenders’ two-year fixed rate buy-to-let product range (up to 65 per cent LTV) and from 3.05 per cent (up to 75 per cent LTV). Both are available on its individual and limited company offerings and a 1.5 per cent arrangement fee applies. 

Five-year fixed rates also start at 2.88 per cent (up to 65 per cent LTV) and 2.98 per cent (up to 75 per cent LTV). Again, both are available for individual and limited company, a 2 per cent arrangement fee applies and calculated ICR at payrate.

The lenders’ HMO/MUFB range sees the largest rate reductions at the 75 per cent LTV band, with two-year fixed rates now starting from 3.08 per cent and five-year fixed rates now beginning at 3.38 per cent. Both are up to 75 per cent LTV with a 2 per cent arrangement fee. 

Full details of the changes are as follows:

Individuals & Limited Companies

Up to 65 per cent LTV: 

  • 2.88 per cent two-year fixed with a 1.5 per cent arrangement fee (rate reduced by 0.16 per cent)
  • 2.88 per cent five-year fixed with a 2 per cent arrangement fee (rate reduced by 0.11 per cent)
  • 3.08 per cent five-year fixed with a 1 per cent arrangement fee (rate reduced by 0.11 per cent)

Up to 75 per cent LTV:

  • 3.05 per cent two-year fixed with a 1.5 per cent arrangement fee (rate reduced by 0.10 per cent)
  • 2.98 per cent five-year fixed with a 2 per cent arrangement fee (rate reduced by 0.12 per cent)
  • 3.18 per cent five-year fixed with a 1 per cent arrangement fee (rate reduced by 0.12 per cent)

HMO/MUFB

Up to 65 per cent LTV: 

  • 2.99 per cent two-year fixed with a 2 per cent arrangement fee (rate reduced by 0.21 per cent)
  • 3.29 per cent five-year fixed with a 2 per cent arrangement fee (rate reduced by 0.10 per cent)
  • 3.49 per cent five-year fixed with a 1 per cent arrangement fee (rate reduced by 0.10 per cent)

Up to 75 per cent LTV:

  • 3.08 per cent two-year fixed with a 2 per cent arrangement fee (rate reduced by 0.31 per cent)
  • 3.38 per cent five-year fixed with a 2 per cent arrangement fee (rate reduced by 0.10 per cent)
  • 3.58 per cent five-year fixed with a 1 per cent arrangement fee (rate reduced by 0.10 per cent)

All five-year products are calculated at ICR payrate, including HMO/MUFB and early repayment charges are 3/2 per cent on two-year fixed rates and 5/4/3/2/1 per cent on five-year fixed rates. Rental income for these products starts from 125 per cent of the monthly mortgage payment and they are applicable for purchase or re-mortgage purposes. Each BTL product has a minimum loan size of £25,001 and a maximum loan size of £1m.