CHL Mortgagesis cutting rates by up to 49 basis points (bps) across its buy-to-let ranges.
The lender’s range now features standard two-year fixed rate mortgages starting from 2.68%, with five-year fixed rates from 4.29%.
For investors looking to purchase small HMO or MUFBs with up to six bedrooms or units, rates for two-year fixed rate mortgages now start from 2.86%, with five-year fixed rates from 4.35%.
The large HMO/MUFB range for properties with up to 10 bedrooms or units, as well as properties considered complex, such as adapted HMOs offering bespoke accommodation, multi-units with shared utilities and hybrid multi-units incorporating both self-contained and HMO elements, now features two-year fixed rates starting from 4.45%, with five-year fixed rates from 5.89%.
The short-term let range, which supports property investors who use Airbnb, holiday lets and serviced accommodation, features two-year fixed rates starting from 5.43%, with five-year fixed rates from 5.89%.
Mortgages are available to individual and limited company landlords and borrowers can choose from a selection of fee options, with LTVs up to 75%.
Ross Turrell (pictured), commercial director at CHL Mortgages, said: “This rate reduction reflects a renewed confidence that things are moving in the right direction following the Bank of England’s recent decision to cut the interest rate for the first time in more than four years.
“By reducing rates across our CHL1 and CHL2 ranges, we’re giving brokers even more opportunities to help their landlord customers achieve their buy-to-let ambitions.”
