CHL Mortgages cuts buy-to-let fixed rates by up to 0.37%

Specialist buy-to-let (BTL) lender CHL Mortgages has reduced rates by up to 0.37%.

The lender’s Standard BTL 2-year fixed rates now start from 3.00%, with 5-year fixed rates starting from 4.35%.

2-year fixed rate products for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) are available from 3.02%, and 5-year fixed rate products start from 4.42%.

Products are available with 2%, 5% and 7% fee options and loan-to-value (LTV) bandings of 55%, 65%, 70% and 75%.

Interest cover ratio (ICR) is calculated at pay rate for 5-year fixed rates and at the higher of 5.5% or pay rate plus 2% for 2-year fixed rates.

Ross Turrell (pictured), commercial director at CHL Mortgages, said: “As we move ever closer to the point at which the Bank of England will reduce the base rate, we see improvements on the forward swap curves.

“As a result, we’re pleased to be able to reduce both 2-year and 5-year fixed rates, which in turn will offer more choice for brokers and the Landlord community.”