News in brief - 11 July 2024

CHL Mortgages has relaunched its specialist product range after withdrawing it earlier this year. The range includes products for landlords looking to access finance from their trading companies, for properties let on short-term tenancies and for both larger or more complex houses in HMOS and MUFBs. The large HMO/MUFB range, which is designed for properties with up to 10 bedrooms or units, features two- and five-year fixed rates, starting from 4.67% up to 75% LTV available, all with a choice of fee options. The lender has also reintroduced its short-term let range, which supports investors who use Airbnb, holiday lets and serviced accommodation, with two- and five-year rates starting from 5.76% up to 75% LTV, with a choice of fee options.

Buy to Let by Foundation has made a number of cuts across its buy-to-let (BTL) range. The lender is announcing 15 bps cuts to both its F1 and F2 two-year fixed rate products, with rates now starting from 6.49% with a 1.5% fee. Product pricing has been cut by up to 10 bps on the lender’s pound-for-pound F1 and F2 remortgage-only products. The two-year fixed rates now start at 6.64% with a 1.5% fee and all applicants are assessed at pay rate with an ICR of 125%. Other rate cuts include F2 two-year fixed HMO and large portfolio products, which now start from 6.74% and 6.79% respectively. The HMO product comes with a 2% fee, while the large portfolio product comes with one free standard valuation, no application fee and a 1.25% product fee.

Alternative Bridging Corporation has recruited Sirui Liao as a new case manager in order to strengthen the support the lender provides to brokers. Liao joins from Profound Financial Consultancy, where he was a mortgage administrator, assisting with all stage of residential and BTL mortgage applications. He brings experience in managing pipeline business, liaising with clint and various stakeholders, and maintaining an up-to-date understanding of lending criteria. Liao will report directly to manager of the case management team, Mihaela Janko.

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