CHL Mortgages has reduced rates across its entire 5-year fixed range with rates now starting from 5.94%.
The lender also expanded the fee options available to landlords, with a newly introduced 7% fee option available up to 70% loan-to-value (LTV).
A 5% fee option remained available up to 70% LTV, whilst the 2% and 3% fee alternatives are available up to 75% LTV.
In the Core product range Individual and Limited Company/LLP rates now start from 5.94%, HMO/MUFB rates from 5.99% and Short-Term Lets products from 6.49%.
Products in the Refurbishment range now start from 5.99%.
All 5-year fixed rate products are calculated at income coverage ratio (ICR) pay rate.
For applications which include a combination of additional-rate, higher-rate and basic-rate payers, the lender will also consider a ‘blended ICR’ approach to determine loan affordability based on each borrower’s tax status and their personal share of ownership or rent to help maximise ICR affordability for its landlord clients.
Ross Turrell (pictured), commercial director at CHL Mortgages, said: “We have started to see a stabilisation in the money markets recently, which has enabled us to reduce our rates.
“Additionally, we have taken the opportunity to implement a number of different fee options, which alongside our broad criteria and underwriting experience further supports our intermediaries and their clients’ needs.”
