CHL Mortgages has reduced its rates across all five-year and two-year fixed rate buy-to-let mortgages by up to 0.50 percentage points.

A 0.45 percentage point reduction has been applied to five-year fixed rate Individual and Limited Company/LLP products, now at 6.19%.HMO/MUFB five-year fixed rate products are reduced by 0.50 percentage points.

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 five-year short-term-let fixed rate product has also reduced by 0.50 percentage points and is now 6.24%.

A cut of 0.45 percentage points has been applied to all five-year fixed rate products in the Refurbishment range, with rates starting from 6.29%. The two-year fixed Refurbishment products are reduced by 0.40 percentage points, with rates now starting from 6.30%.

All five-year fixed rate products are available to a maximum of 70% LTV, with a 3% product fee and have an ERC percentage of 5/4/3/2/1. The two-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.

New Core Product Range:

Individuals & Limited Companies/LLP:

• Five-year fixed interest rate of 6.19% 

Small HMOs & MUFBs:

• Five-year fixed interest rate of 6.24%

Large HMOs & MUFBs:

• Five-year fixed interest rate of 6.29%

Short Term Lets:

• Five-year fixed interest rate of 6.24%

New Refurbishment Product Range:

Light Refurbishment:

• Five-year fixed interest rate of 6.34% (Individual and Limited Company/LLP) 
• Two-year fixed interest rate of 6.35% (Individual and Limited Company/LLP) 
• Five-year fixed interest rate of 6.39% (Small HMO/MUFB)
• Two-year fixed interest rate of 6.40% (Small HMO/MUFB)
  

EPC Improvement:

• Five-year fixed interest rate 6.34% (Individual and Limited Company/LLP)
• Two-year fixed interest rate of 6.35% (Individual and Limited Company/LLP)
• Five-year fixed interest rate of 6.39% (Small HMO/MUFB)
• Two-year fixed interest rate of 6.40% (Small HMO/MUFB)

Cosmetic Improvement:

• Five-year fixed interest rate of 6.29% (Individual and Limited Company/LLP)
• Two-year fixed interest rate of 6.30% (Individual and Limited Company/LLP)
• Five-year fixed interest rate of 6.34% (Small HMO/MUFB)
• Two-year fixed interest rate of 6.35% (Small HMO/MUFB)

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 five-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.”