Pricing for single-dwelling two-year fixed rate products starts from 2.24%, with rates for small house of multiple occupation (HMO) and multi-unit freehold block (MUFB) two-year fixed rates beginning from 2.34%. Meanwhile, pricing begins from 2.76% for short-term let two-year fixed rates.
Free valuations can be used on selected deals across all property types, including large HMOs and MUFBs, with mortgages open to individual and limited company landlords.
The firm said the entire product range for CHL 1 and CHL 2 has increased from 135 to 213 products as a result of this launch, including standard two- and five-year fixed deals, small HMO/MUFB two- and five-year fixed rates, large HMO/MUFB two- and five-year fixed deals and short-term let two- and five-year fixed offerings.
It said this is because of the new LTV tiers – 55%, 65% and 75% – which have been introduced across all product ranges, as well as new fee options ranging from 0% to 7%.
Darrell Walker, Chetwood Bank’s group sales director for CHL Mortgages for Intermediaries and ModaMortgages, said: “We’re excited to unveil our completely refreshed buy-to-let range, which gives brokers access to our most extensive set of buy-to-let solutions.
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“Our new range gives landlords more choice than ever before – no matter what type of buy-to-let product they’re looking for.”
Fleet Mortgages reduces rates
Fleet Mortgages has cut two- and five-year fixed rates at 75% LTV by up to 0.1-0.15%.
The firm has lowered its two-year fixed rate with a 3% fee at 75% LTV – available on properties that have an Energy Performance Certificate (EPC) of A-C. It has been cut from 3.89% to 3.79%, while the equal product for those properties with an EPC rating of D and below has been lowered from 3.99% to 3.89%.
For Fleet Mortgages’ five-year fixed rate at 75% LTV with a 3% fee for both standard and limited company, pricing now begins at 4.54% for EPC A-C properties and 4.64% for non-EPC A-C properties.
For its no-fee, five-year 75% LTV products, there has been a 0.15% price cut from 5.34% to 5.19%, while the £1,999 fixed-fee option has been cut from 5.09% to 4.99%.
Fleet Mortgages has also withdrawn all existing 55% LTV products and a number of those offered at 65% LTV.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “These changes highlight Fleet’s ongoing commitment to providing highly competitive pricing across the most in-demand parts of the buy-to-let market for landlord borrowers. By cutting rates on both our core two- and five-year fixed 75% LTV products, we are hopefully providing advisers with a stronger array of competitive solutions to take to their landlord clients.”
