CHL Mortgages reduces rates by up to 34bps

CHL Mortgages has reduced rates across its entire five-year fixed range by up to 0.34%.

The lender has also expanded the fee options available to landlords, with a newly introduced 7% fee option available up to 70% LTV. A 5% fee option also remains available up to 70% LTV, whilst the 2% and 3% fee alternatives are available up to 75% LTV.

In CHL's core product range, individual and limited company/LLP rates now start from 5.94%, HMO/MUFB rates from 5.99% and short term let products from 6.49%. Products in the refurbishment range now start from 5.99%.

All five-year fixed rate products are calculated at ICR pay rate. For applications which include a combination of additional-rate/higher-rate/basic-rate payers, the lender will also consider a 'blended ICR' approach to determine loan affordability based on each borrower’s tax status and their personal share of ownership/rent to help maximise ICR affordability.

Ross Turrell, commercial director at CHL Mortgages, commented: “We have started to see a stabilisation in the money markets recently, which has enabled us to reduce our rates. Additionally, we have taken the opportunity to implement a number of different fee options, which alongside our broad criteria and underwriting experience further supports our intermediaries and their clients’ needs.”