Chorley Building Society has launched two new buy to let products, in response to feedback from brokers.

The two new products offer a lower interest rate than the society’s equivalent standard buy to let products and have a fixed 3% scheme fee.

Chorley’s standard buy to let products have a fixed scheme fee of £1,499 and have a higher interest rate.

This means that the lower interest rate will support the ICR calculation (rent required to support the mortgage payments).

The new products are buy to let two-year discount 70% LTV – 3.99% (4.40% discount from current SVR)

Limited company buy to let two-year discount 70% LTV – 3.99% (4.40% discount from current SVR)

Chorley BS senior business development Shane Dye commented: “We listen to all feedback that we receive from our broker network.  The potential to offset a scheme fee (dependent on the landlord’s individual tax liability status) and benefit from a lower interest rate, was something that had come up many times.  We are delighted to include this as part of our extensive Buy to Let range of products.”