Specialist lender CHL Mortgages has announced a 0.21% rate cut across its entire buy-to-let range, effective from 21st May.
The updated range features standard 2-year fixed-rate mortgages starting from 3.20%, and 5-year fixed rates starting from 4.55%. For investors interested in small HMO (up to six bedrooms) and MUFB (up to six units), 2-year fixed rates now start from 3.22%, and 5-year fixed rates from 4.62%.
Borrowers can choose from products with 2%, 3.5%, 5%, and 7% fee options, with LTVs up to 75%. Mortgages are available to individual and limited company landlords. CHL Mortgages calculates ICR at the higher of 5.5% or pay rate plus 2% for 2-year fixed rates, and at pay rate for 5-year fixed rates. The lender can also apply blended ICRs based on each borrower’s tax status and 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 2-year and 5-year fixed rates will help brokers support their landlord clients in achieving the best deal.”
