CHL cuts BTL rates at 75% LTV

Jessica Bird

July 23, 2021

mortgage rates

Intermediary-only specialist buy-to-let (BTL) lender CHL Mortgages has cut rates across its 75% loan-to-value (LTV) product range by up to 15bps.

The lender’s 5-year fixed rates now start from 3.10% at 75% LTV on individual and limited company, with house in multiple occupation (HMO) and multi-unit freehold block (MUFB) 2-year deals starting from 3.39%, and 5-year from 3.48%.

In addition, at 65% LTV for individuals and limited companies, the 3.19% 5-year fixed now has a reduced arrangement fee of 1%.

Early repayment charges (ERCs) are 3/2 for 2-year fixed deals and 5/4/3/2/1 for 5-year fixed.

The interest cover ratio (ICR) starts from 125% of the mortgage payment and is calculated at payrate for all 5-year products on both purchase and remortgage, including HMO and MUFB.

Ross Turrell, commercial director at CHL Mortgages, said: “We’ve seen positive movement in the markets with long term swap rates improving and so have moved quickly to pass these savings onto landlords through our intermediary partners.

“The buy-to-let marketplace is hugely competitive and it’s important to outline our product and service values on an ongoing basis.

“Passing on these savings – alongside no loading on our valuation fees – demonstrates our commitment to promoting transparency throughout our proposition.

“Attributes we will continue to build on in H2 2021.”

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