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Coventry BS lowers rates; CHL Mortgages cuts BTL pricing – round-up

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  • 14/06/2024
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Coventry BS lowers rates; CHL Mortgages cuts BTL pricing – round-up
Coventry Building Society has reduced select residential fixed rates by as much as 0.3%.

This includes products for both new and existing borrowers, across two-, three- and five-year fixed options between 65% and 95% loan to value (LTV).

This includes a five-year fix at 85% LTV priced at 4.88%. This is available to first-time buyers and has a £500 cashback incentive. 

There is also a two-year fix at 75% LTV with a rate of 4.89%. This has a £999 product fee and is available to existing borrowers. 

 

CHL Mortgages cuts BTL fixed rates 

Specialist lender CHL Mortgages has reduced fixed rates across its buy-to-let (BTL) options and amended criteria. 

Its two-year fixed rates have been cut by up to 0.42% and pricing now starts at 2.87%. 

This headline rate is available with a two-year fixed standard BTL option at 55% LTV with a 7% fee. 

Options are available up to 75% LTV with a choice of fees. 

CHL Mortgages’ criteria changes include an increase to the maximum loan size at 70% LTV, which is now £2m. 

The lender has also increased the aggregate borrower exposure to £5m with no limit on the number of individual loans. 

The maximum LTV available for new-build flats has been increased to 75%, as has the limit for ex-local authority flats. 

The lender will also now accept applications for properties on the Isle of Wight. 

Products are open to individual, limited company and house in multiple occupation (HMO) or multi-freehold block (MUFB) landlords. 

Ross Turrell, commercial director at CHL Mortgages, said: “This range refresh is the latest example of how committed we are to supporting intermediaries in helping their landlord clients achieve their buy-to-let ambitions. 

“There aren’t many other deals out there at the moment where the rate starts with a ‘2’, and with the potential for the bank base rate to reduce in the coming months, our repriced two-year fixed rate products could be ideal for those who don’t want to lock in to a long-term mortgage. 

“It’s another positive demonstration of how our recent acquisition by Chetwood Financial is adding value and helping us to expand our offering to our intermediary partners.” 

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