CHL Mortgages has reduced rates across its whole five-year fixed range with rates now starting from 5.94%.

The lender has also expanded the fee options available to landlords, with a newly introduced 7% fee option available up to 70% LTV. A 5% fee option also remains 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 five-year fixed rate products are calculated at ICR pay rate. For applications which include a combination of additional-rate/higher-rate/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/rent to help maximise ICR affordability for its landlord clients.

Details are as follows:

Five-year fixed with 7% fee option – 70% LTV:

Five-year fixed with 5% fee option – 70% LTV:

Five-year fixed with 3% fee option – 75% LTV:

Five-year fixed with 2% fee option – 75% LTV:

Ross Turrell, 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.”