CHL Mortgages cuts rates across entire buy-to-let range

CHL Mortgages is cutting rates by 0.21% across its entire buy-to-let range.

The refreshed range now features standard two-year fixed rate mortgages starting from 3.20%, with five-year fixed rates starting from 4.55%.

For small HMOs (up to six bedrooms) and MUFBs (up to six units), rates for two-year fixed rate mortgages now start from 3.22% and five-year fixed rates from 4.62%.

Borrowers can choose between products with 2%, 3.5%, 5% and 7% fee options, with LTVs up to 75%.

Mortgages are available to individual and limited company landlords, with the lender calculating ICR at the higher of 5.5% or pay rate plus 2% for two-year fixed rates, and pay rate for five-year fixed rates.

The lender also has the ability to apply blended ICRs to assist with affordability based upon each borrowers’ tax status and their individual share of ownership.

Ross Turrell, commercial director at CHL Mortgages, said: “This pricing refresh reflects recent improvements in swap rates and will help us to retain our competitive positioning in the market.

“These reductions to both our two-year and five-year fixed rates will help brokers support their landlord clients in achieving the best deal.”