CHL Mortgages has announced that they have introduced a 3.5% product fee option across all LTV bands.
The lender revealed that products are now available with 2%, 3.5%, 5% and 7% fee options and LTV bandings of 55%, 65%, 70% and 75%.
Interest rates now start from 3.20% for a Standard Buy-to-Let, with HMO/MUFB products starting from 3.22%. These starting rates are for the 2-year fixed products up to 55% LTV, with a 7% product fee.
5-year fixed products are also available, starting from 4.55% for a Standard Buy-to-Let, with HMO/MUFB products starting from 4.62%.
ICR calculations:
· 5-year fixed: Pay rate
· 2-year fixed: 5.5% or pay rate plus 2% (whichever is higher)
Ross Turrell, (pictured) Commercial Director, CHL Mortgages, commented: "The roller coaster of swap Rates continues with the 5-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 mid-point fee option."
