Chorley Building Society has launched two new buy-to-let (BTL) fixed rate remortgages and later life fixed rate remortgages.
The 60% loan-to-value (LTV) BTL remortgage is available in a two-year fixed option and a five-year fixed option, both including a £500 cashback option.
BTL’s five-year fixed rate is 60% LTV, remortgage (fixed until September 30, 2030) with an interest rate of 4.49%, and a cashback of £500; BTL’s two-year fixed rate is 60% LTV, with a remortgage (fixed until January 31, 2028) with an interest rate of 4.79% and a cashback of £500.
The association has also launched a late-life five-year fixed-rate remortgage at 60% LTV (fixed until 30 September 2030) at 4.69% with legal costs of £203.24 + VAT.
Shane Dye, senior business development manager at Chorley Building Society, said: “In my broker meetings it has become increasingly clear to us that fixed rate BTL remortgage products are needed to support brokers and their clients. We are delighted to be launching both products to provide brokers with a choice of terms.”
“We already offer a number of later-life products, including jumbo loans and discount options. Adding fixed-rate remortgages to our product range gives brokers a variety of solutions for later-life clients.”
Elsewhere, Landbay has reduced rates on its five-year fixed-rate premium product, which now stands at 4.09%.
The biggest drop was in the main five-year fixed-rate product, which has an LTV of 75%, with all four products down 0.15%.
The free valuation remortgage product in the top range has also been reduced by 0.13%, with interest rates now at 4.14% and loan-to-value ratios up to 75%.
Product transfer options, including those offering free estimates, have been slashed by as much as 0.14%.
New product highlights:
• Premium five-year fixed 75% LTV 5% fee at 4.09%
• Premium five-year fixed 75% LTV 1% fee at 4.89%
• Premier Remortgage free five-year fixed rate 75% LTV 5% with fees of 4.14%
• Premier Remortgage free five-year fixed rate 75% LTV 1% with fees of 4.94%
• Product transfer Premier five-year fixed 75% LTV 5% fee is 4.15%
• Product transfer Premier five-year fixed 75% LTV 2% fee 4.75%
Rob Stanton, Sales and Distribution Director at Landbay, said: “Following the launch of our new Premier product last week, we are delighted to be announcing rate reductions for our Premier range of five-year fixed products.”
