Specialist lender CHL Mortgages for Intermediaries has reduced rates by up to 1.19% across its short term lets range of buy-to-let mortgages.

The range, which is suitable for borrowers who intend to let a property for a short period of time such as a holiday let or serviced apartment, now features 2-year fixed rate products from 4.39% and 5-year fixed rate products from 5.24%, all at 75% LTV.

Borrowers can choose between 3.5% or 5% fee options on the 2-year fixed rate products and between 3.5%, 5% or 7% fee options on the 5-year fixed rate products.

SUPPORTING LANDLORDS

Ross Turrell, Commercial Director at CHL Mortgages, said: “We believe this rate reduction will support landlords looking to diversify their portfolios and explore other investment opportunities.

“With people starting to think about their summer holidays, holiday lets and serviced apartments are a great alternative to hotels and let people stay in the location of their choice, while enjoying high quality self-catering accommodation.”