Chorley Building Society has broadened its array of mortgage products, catering to diverse needs such as buy-to-let, holiday lets, second homes, and later life financing. This expansion not only provides new opportunities for existing landlords but also welcomes first-time landlords and buyers into the fold.

New Opportunities for Landlords

Among the newly introduced options are the limited company buy-to-let mortgages. These are designed to attract both seasoned and novice landlords, including those venturing into property rental for the first time. The application process is inclusive, allowing up to four applicants to join forces on a single mortgage application.

The buy-to-let offerings include:

• A 60% loan-to-value (LTV) two-year discount mortgage at a rate of 5.85%.
• A 70% LTV option also for two years, starting at 6.14%.
• An exclusive product for first-time landlords, featuring a two-year discount rate at 70% LTV, priced at 6.74%.

Expanding Beyond Traditional Rentals

Chorley’s new product lineup also caters to the burgeoning holiday let market. The highlight is a two-year discounted holiday let mortgage at 6.74%, available up to 80% LTV. This product is available for properties located in England and Wales, with certain exclusions, and is suitable for homes listed on platforms like AirBnB.

Second Home Mortgage

For those looking to purchase a second property, whether as a commuter pad, weekend getaway, or a residence for dependents, Chorley introduces a second home mortgage. This product offers a two-year discounted rate of 6.29% up to 85% LTV, providing flexibility and affordability for second-home buyers.

Supporting Aging Homeowners

The society hasn’t forgotten about older homeowners looking to remortgage in their later years. Two new later life remortgage products are now part of the portfolio:

• A competitive rate of 5.99% up to 60% LTV.
• A higher leverage option at 6.99% up to 80% LTV.

Dedicated Customer Support

Liz Pearson, the Head of Operations at Chorley Building Society, commented, “We’ve taken on board the valuable feedback that we receive from intermediaries and launched a number of products that they have asked for. At Chorley Building Society, 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.”