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CHL Mortgages introduces 3.5% product fee

  • 17/04/2024
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CHL Mortgages introduces 3.5% product fee
Specialist buy-to-let (BTL) lender CHL Mortgages has added 3.5% product fee options to mortgages across all loan-to-value (LTV) bands.

This has been added to CHL Mortgages’ 2%, 3%, 5% and 7% fee options at the 55%, 65%, 70% and 75% LTV tiers. 

CHL Mortgages’ rates begin at 3.2% for a standard BTL mortgage, while rates for houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) products start at 3.22%. 

These headline rates apply to the two-year fix up to 55% LTV with a 7% product fee. 

Across the lender’s five-year fixed rates, pricing starts at 4.55% for a standard BTL deal or 4.62% for an HMO/MUFB product. 

The interest coverage ratio (ICR) is calculated at the pay rate across the lender’s five-year fixes, while this is 5.5% or the pay rate plus 2% for two-year fixes, whichever is higher. 

Ross Turrell (pictured), commercial director at CHL Mortgages, said: “The rollercoaster of swap rates continues with the five-year fixed swap once again breaching 4%.

“With pressure on the ICR calculation, we are seeing more demand for subsidised lower rates and have broadened our range with a midpoint fee option.” 


Product readjustments

CHL Mortgages has made a few changes to its range, including the reduction of rates last month.

It also recently expanded its offering to include the 55% LTV tier and brought back five-year fixes.


Interested in the BTL market? Mortgage Solutions is holding a series of BTL forum events across England and Wales in April and May. To find out more, click here: 

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