Buy To Let Mortgages
Chorley BS launches buy-to-let and later life fixed rate deals
Chorley Building Society has released a selection of buy-to-let (BTL) and later life fixed rate products following broker and customer feedback.
On the later life fixed rate side, the firm has brought out a five-year fixed rate at 75% loan to value (LTV) and a five-year fixed rate remortgage at the same LTV tier.
The later life fixed rate products are aimed at applicants who are 75-plus on application or at the end of the mortgage term.
The lender has also added a duo of BTL fixed rates, including a two-year fixed rate at 70% LTV and a limited company BTL two-year fixed rate.
Liz Pearson, head of operations at Chorley Building Society, said: “We see more and more people that have a need to borrow later in life, and we want to make sure our mortgages support older borrowers who need to purchase or refinance.
“Feedback from our brokers said our later life borrowers were looking for more stability in their interest rates and payments, and so we’re responding to these needs by launching these new five-year fixed rate products.”
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She continued: “Our underwriting team have a great deal of experience in buy-to-let lending. Our personalised approach means they are very happy to support brokers with their complex and bespoke cases that fall into this type of specialist lending.”
Chorley Building Society recently changed its lending criteria for its credit renew products and upped the LTV tiers for these products.