CHL Mortgages has cut rates on its short-term range of BTL products for intermediaries by up to 1.19%.
This range includes products for borrowers who intend to let a property for a short period of time such as a holiday let or serviced apartment.
Now, this features two-year fixed-rate products from 4.39% and five-year fixed-rate products from 5.24%. Both are available with LTVs of up to 75%.
The former carries 3.5% or 5% fee options, while the latter has 3.5%, 5% and 7% fee options.
“We believe this rate reduction will support landlords looking to diversify their portfolios and explore other investment opportunities,” said Ross Turrell, commercial director at CHL Mortgages.
“With people starting to think about their summer holidays, holiday lets and serviced apartments are a great alternative to hotels and let people stay in the location of their choice, while enjoying high quality self-catering accommodation.”
