CHL Mortgages for Intermediaries has unveiled sweeping rate cuts across its buy-to-let mortgage range, reducing pricing by as much as 32 basis points in a move aimed at enhancing affordability and choice for landlords.

The specialist lender has repriced its CHL 1 limited edition range with reductions of up to 32bps, bringing two-year fixed rates down to 2.35% and five-year fixed rates starting from 4.40%.

Meanwhile, its CHL 2 two-year fixed rate range has seen rates fall by 30bps, with pricing from 2.59%, while five-year fixed rates in the CHL 2 range have dropped by 10bps to a new starting point of 4.68%.

In addition to the rate changes, CHL has launched a new two-year fixed rate product at 75% loan-to-value with a 7% fee, specifically within the CHL 2 range.

The lender believes the product may appeal to investors seeking to trade higher upfront costs for lower monthly repayments, thereby improving affordability metrics.

The CHL 1 range caters to a broad selection of property types, from standard single-unit buy-to-lets to houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) of up to six bedrooms or units.

In contrast, the CHL 2 range is designed for more complex investments, such as large HMOs and MUFBs of up to 10 bedrooms or units.

All products are available to both individual and limited company landlords and offer a choice of product fees, with borrowing available up to 75% LTV.

Darrell Walker (pictured), group sales director for CHL Mortgages for Intermediaries and ModaMortgages at Chetwood Bank, said: “This major reprice across our buy-to-let range, with reductions of up to 32bps, reinforces our commitment to offering competitive and compelling solutions for landlords.

“Alongside these rate cuts, the launch of a new product into our CHL 2 range will provide investors with even more choice when looking to potentially make savings in the long run by paying a higher fee up front.”