The tracker mortgages are available across single dwelling and house in multiple occupation (HMO) property types with no early repayment charges (ERCs) and the option of a 2% or 5% fee.
The rates for single dwelling products are 5.5% with a 2% fee and 4.1% with a 5% fee. Pricing for HMO products is 5.6% with a 2% fee and 4.2% with a 5% fee.
Darrell Walker, Chetwood Bank’s group sales director for CHL Mortgages and ModaMortgages, said: “We’re pleased to announce the launch of these limited-edition two-year 75% LTV tracker products.
“Following on from the introduction of a new range of 75% and 80% LTV products, the launch of these trackers reinforces our commitment to providing a competitive, well-rounded suite of specialist mortgage solutions, which are designed to support brokers and landlords in an ever-changing market.”
The launch comes after CHL Mortgages enhanced its higher-LTV range with limited-edition fixed rates at 75% and 80% LTV across single dwelling and HMO property types.
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Darlington increases maximum LTV on limited company BTL
Darlington Building Society has increased the maximum LTV available across its limited company BTL products from 75% to 80%.
The mutual entered the limited company BTL sector in November, and the range includes a two-year fix at 5.29% and a five-year fix at 5.39%, with a £999 fee and valuation fee.
The products are available for purchase and remortgage and are open to first-time buyers and first-time landlords, with no minimum income or ownership requirements.
The range can also be used for holiday let properties.
Chris Blewitt, head of intermediary distribution at Darlington Building Society, said: “Limited company buy to let is not new, but the needs of these borrowers have shifted. In the past, it was largely the space of specialist lenders working with portfolio landlords. We are now seeing more interest from those with smaller holdings and first-time buyers or first-time landlords. This is a space where Darlington has always been strong.
“As a lender that understands individual cases and the profile behind them, we felt the market needed our support now more than ever. Raising LTV to 80% gives brokers an extra tool when helping clients structure their borrowing in a way that suits long-term plans.”
