CHL Mortgages has reduced its rates across all 5-year and 2-year fixed rate buy-to-let (BTL) mortgages by up to 0.50%.
A 0.45% reduction has been applied to 5-year fixed rate individual and limited company/LLP products, now at 6.19%.
HMO/MUFB 5-year fixed rate products have also been reduced by 0.50%.
Ross Turrell (pictured), commercial director at CHL Mortgages, said: “As the money markets have stabilised, we have taken the opportunity to reduce our rates.
“The reduction in the 5-year fixed rate products which are stressed at pay rate should help our intermediary partners help generate a higher maximum advance for their landlord clients.”
Additionally, small HMO/MUFB (for up to 6 bedrooms/units) now has a rate of 6.24%, while the rate for the large HMO/MUFB product (for up to 10 bedrooms/units) sits at 6.29%.
The 5-year short-term-let fixed rate product has also reduced by 0.50% and is now 6.24%.
A cut of 0.45% has been applied to all 5-year fixed rate products in the refurbishment range, with rates starting from 6.29%.
The 2-year fixed refurbishment products are reduced by 0.40%, with rates now starting from 6.30%.
All 5-year fixed rate products are available to a maximum of 70% loan-to-value (LTV), with a 3% product fee and have an ERC percentage of 5/4/3/2/1.
The 2-year fixed refurbishment products are also available to a maximum of 70% LTV, with a 3% product fee, with the ERC percentage, in this case, being 3/2.
Pricing of the lifetime tracker products in the refurbishment range remains unchanged.
CHL Mortgages said that the full product range aims to cater for first-time landlords, portfolio landlords, limited companies and LLPs covering a variety of BTL investments, including HMOs and MUFBs.
