CHL Mortgages has reduced rates by up to 49 bps across its BTL product ranges.
Following the rate changes, the lender’s range now features two-year fixed-rate options starting from 2.68%, and five-year fixed-rate products priced from 4.29%.
Meanwhile, the firm’s options for small HMOs and MUFBs with up to six bedrooms or units are now priced from 2.86% for two-year fixes, and 4.35% for five-year fixes.
The large HMO/MUFB range for properties with up to 10 bedrooms or units, as well as properties considered complex —such as adapted HMOs offering bespoke accommodation, multi-units with shared utilities and hybrid multi-units incorporating both self-contained and HMO elements — now features two-year fixed rates starting from 4.45%, and five-year fixed rates from 5.89%.
The short-term let range, which supports property investors who use Airbnb, holiday lets and serviced accommodation, features two-year fixed rates starting from 5.43%, and five-year fixed rates from 5.89%.
Mortgages are available to individual and limited company landlords and borrowers can choose from a selection of fee options, with LTVs up to 75%.
Ross Turrell, commercial director at CHL Mortgages (pictured above), said: “This rate reduction reflects a renewed confidence that things are moving in the right direction following the Bank of England’s recent decision to cut the interest rate for the first time in more than four years.
“By reducing rates across our CHL1 and CHL2 ranges, we’re giving brokers even more opportunities to help their landlord customers achieve their BTL ambitions.”
