CHL Mortgages for Intermediaries has reduced rates across its short-term lets range by 30 basis points (bps).

The specialist lender’s 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 two-year fixed rate products from 4.09% and five-year fixed rate products from 4.94%, all at 75% LTV.

There are 3.5% and 5% fee options on the two-year fixed rate products, with 3.5%, 5% and 7% fee options on the five-year fixed rate products.

Darrell Walker (pictured), newly appointed group sales director at CHL Mortgages for Intermediaries, said: “We’re delighted to announce we’re cutting rates across our short term lets range by a further 30bps.

“The reduction follows on from an earlier cut we made to rates in February and gives even more support to landlords who are looking to diversify their portfolios and explore other investment opportunities.”