The new BTL remortgages are available up to 60% loan-to-value (LTV) and come with a choice of a two-year or five-year fixed rate, both featuring a £500 cashback option. The products are designed to give brokers more flexibility when supporting clients looking to remortgage in the current market.
Shane Dye, senior business development manager at Chorley Building Society (pictured), said: “During my broker meetings, it was becoming very clear that a fixed rate BTL remortgage product was needed to support brokers and their clients. We are delighted that we can introduce these two products to provide brokers with term-length options.”
The new BTL products are a 5-year fixed rate remortgage at 60% LTV remortgage, fixed until 30 September 2030, at 4.49% with £500 cashback, and a 2-year fixed rate at 60% LTV remortgage, fixed until 31 January 2028, at 4.79% with £500 cashback.
The society has also launched a later life 5-year fixed rate remortgage, complementing its existing range of later life lending solutions. The product provides a fixed rate of 4.69% up to 60% LTV, fixed until 30 September 2030, and includes a £203.24 + VAT contribution towards legal fees.
Shane Dye added: “We already offer a number of later life products, including large loan and discount options. Adding a fixed rate remortgage to our range provides brokers with a variety of solutions for later life clients.”
