Tuesday, November 28, 2023
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Atom bank increases maximum LTV on large commercial mortgages
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CHL Mortgages has significantly enhanced its buy-to-let product range, introducing two distinct categories: CHL 1 and CHL 2.
The newly structured CHL 1, tailored for customers with a clear credit history, features a headline rate of 3.65% for a two-year fixed term at up to 65% LTV. This range merges the previous individual and limited company offerings.
In contrast, CHL 2 caters to a broader client base and complex property types, including standard BTL, various HMO/MUFB options, short-term lets, and a refurbishment range. Its 2-year fixed rates start from 5.40% for up to 70% LTV, and five-year fixed rates from 5.27% for the same LTV, with higher rates for 75% LTV. Fees in CHL 1 vary from 2% to 7%, while CHL 2 offers additional 3% options.
The lender’s commercial director, Ross Turrell, expressed optimism about the expanded range and reduced pricing, anticipating positive impacts on landlords and the stabilising buy-to-let market.
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
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