Expanded range from Chorley and new rates from the Dudley

Chorley Building Society has extensive enhanced its mortgage range with new products for limited company buy to let investors, holiday lets, second home buyers and those seeking later life remortgaging.

There’s a new Holiday Let mortgage with an 80% LTV at a 6.74% initial rate, eligible for properties listed on AirBnB and similar platforms within England and Wales.

For those purchasing a second home, without seeking to let, there’s a new two-year discount mortgage with an 85% LTV starting at 6.29%.

For the traditional buy to let investor there’s now a limited company product with a 60% LTV two-year discount starting at 5.85%, and a 70% LTV option at 6.14%, with a specific rate of 6.74% for first-time landlords.

There are also two new later life remortgage products offering initial rates of 5.99% at 60% LTV and 6.99% at 80% LTV.

Liz Pearson, head of operations at Chorley Building Society, says: “We’ve taken on board the valuable feedback that we receive from intermediaries and launched a number of products that they have asked for … We take a flexible approach to lending and assess every case individually. We’re looking forward to supporting intermediaries with their clients’ next purchases, whether that’s a dream second home or beginning a buy-to-let portfolio, our five-star rated team are on hand to help.”

There are changes, too, at the Dudley Building Society which has reduced rates by up to 0.35% .

Two-year fixed expat residential mortgage rates now start at 6.45% for loans up to 60% LTV and from 6.55% for loans up to 85% LTV. 

Two-year fixed Buy to Let expat mortgages now begin at 6.55% for up to 70% LTV and 6.65% up to 80% LTV.

Expat holiday let two-year fixed rates have also been reduced to 6.55% up to 70% LTV and 6.65% up to 80% LTV.

The Society will consider applications from a wide range of countries and in over 160 currencies and can accept income from one foreign currency plus income derived in GBP. The Society has also lowered rates across its Self-Build mortgage range.

The 2.40% Self-Build Discount for Term (Advance) rate has been reduced to 6.84% up to 80% LTV, while the 2.50% Self-Build Discount for Term (Arrears) rate has been lowered to 6.74% up to 80% LTV.

The 2.60% Eco Self-Build Discount for Term (Advance) rate has reduced to 6.64% for loans up to 80% LTV, while the 2.70% Eco Self-Build Discount for Term (Arrears) rate has been reduced to 6.54% for loans up to 80% LTV.

The Society will lend up to £1.5m across its Expat residential range and up to £1m across its Expat BTL and holiday let range, as well as its Self-Build products.

Robert Oliver, Distribution Director at Dudley Building Society, says: “Brokers can be confident that they will receive a flexible and personalised approach to underwriting when submitting mortgage applications to us. We look forward to assisting even more Expat and Self-Build borrowers with our latest rate reductions.”