"With 5-year swap rates improving on the back of better global inflation forecasts we are pleased to bring in some welcome rate reductions for the hard-pressed Buy-to-Let sector"
- Ross Turrell - CHL
CHL Mortgages has announced that it has made changes to its CHL 1 product range which was launched in November last year.
CHL 1 has been specially designed for customers with a clean credit history and consists of Standard Buy-to-Let and Small HMO/MUFB product types. All of CHL Mortgages products are available to Individuals and Limited Companies.
The lowest interest rate in the CHL 1 range is 3.06% for a 2-year fixed Standard Buy-to-Let product up to 65% LTV, with a 7% fee. The equivalent Small HMO/MUFB product is reduced to 3.08%. Higher LTVs are available, with 70% LTV products starting from 3.15% (Standard Buy-to-Let) and 3.17% (Small HMO/MUFB). 75% LTV options start from 4.34% (Standard Buy-to-Let) and 4.35% (Small HMO/MUFB).
5-year fixed rates under CHL 1 now start from 4.47% (Standard Buy-to-Let) and 4.56% (Small HMO/MUFB) for the 65% LTV products. The 70% LTV options start at 4.52% (Standard Buy-to-Let) and 4.59% (Small HMO/MUFB), with 75% LTV products from 4.57% (Standard Buy-to-Let) and 4.62% (Small HMO/MUFB).
Product fees for CHL 1 are available in 2%, 5% and 7% options.
Ross Turrell, (pictured) Commercial Director, CHL Mortgages, commented: “With 5-year swap rates improving on the back of better global inflation forecasts we are pleased to bring in some welcome rate reductions for the hard-pressed Buy-to-Let sector. This along with a steady increase in rents will see the affordability calculations start to go back into equilibrium.”
