About CHL Mortgages

CHL Mortgages is a specialist buy-to-let mortgage lender who provides finance for investment properties exclusively through mortgage brokers, such as Teito.

A trading name of Capital Homes Loans Ltd, this lender has also provided bespoke third-party mortgages and bridging loans to over 30,000 customers over the years.

What mortgages are available?

CHL specialises in buy-to-let mortgages and divide their products into these categories:

• Standard buy-to-let mortgages: Available to individuals and limited companies.
• HMO mortgages: For houses of multiple occupancy with up to six bedrooms.
• MUFB mortgages: For multi-unit freehold blocks with up to six bedrooms.

CHL buy-to-let mortgages come with 2 and 5-year fixed-rate options.

Eligibility criteria

CHL Mortgages uses the following eligibility criteria to assess buy-to-let applicants:

• Deposit requirements: Start at 25% of the property value (75% LTV).
• Landlord experience: Not needed for standard buy-to-let but borrowers need to have owned a home for at least six months. For HMO and MUFB applications, borrowers need to have owned a buy-to-let property for at least two years.
• Portfolio limits: There are no specific restrictions to the number of buy-to-let properties that portfolio landlords can have on their books.
• Age limits: The maximum age applicants can be is 85 years old at the end of the mortgage term. Primary applicants must be at least 21 years old.
• Credit history: Bad credit buy-to-let mortgages available for most moderate credit issues that have been discharged for 36 months. More severe issues such as bankruptcy need to have been discharged for over three years.
• Affordability: Applicants need personal income of at least £20k per year and the projected rental income must be at least 125% of the monthly mortgage payments. For higher rate taxpayers, rental income must be 145% of the mortgage payments.

This criteria was sourced from the lender’s website.

Mortgage rates available

At the time of writing (May 2024), rates on CHL Mortgages’ buy-to-let mortgage range start at 3.20% (55% LTV deal with a 7% fee) and reach 6.24% (75% LTV with a 2% fee) at the other end of the scale. These rates are generally competitive with other buy-to-let lenders.

You can compare buy-to-let mortgage rates from this lender and their competitors from across the market, or have one of our brokers do it for you, for free below: