"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."
- Ross Turrell, commercial director at CHL Mortgages
Specialist buy-to-let lender, CHL Mortgages, has expanded its product range, introducing a 3.5% product fee option across all LTV bands.
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 mortgage, with HMO/MUFB products starting from 3.22%. Starting rates are for two-year fixed products up to 55% LTV, with a 7% product fee.
Five-year fixed products are also available, starting from 4.55% for a standard buy-to-let, with HMO/MUFB products starting from 4.62%.
Five-year fixed rate ICR is calculated at pay rate while two-year fixes are at 5.5% or pay rate plus 2% (whichever is higher).
Ross Turrell, commercial director at CHL Mortgages, commented: "The roller coaster 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 mid-point fee option."
