Rates now start from 2.88% on the lenders’ 2-year fixed rate buy-to-let product range up to 65% LTV.
CHL Mortgages, the intermediary-only specialist buy-to-let (BTL) lender, has reduced rates across its entire product range for individuals and limited companies.
Rates start from 2.88% on the lenders’ 2-year fixed rate BTL product range up to 65% loan-to-value (LTV) and from 3.05% up to 75% LTV.
Both are available on its individual and limited company offerings and a 1.5% arrangement fee applies.
5-year fixed rates also start at 2.88% up to 65% LTV and 2.98% up to 75% LTV.
Both are available for individual and limited company, a 2% arrangement fee applies and calculated ICR at payrate.
The lenders’ house in multiple occupation (HMO) and multi-unit freehold block (MUFB) range has seen the largest rate reductions at the 75% LTV band, with 2-year fixed rates now starting from 3.08% and 5-year fixed rates now beginning at 3.38%. Both are up to 75% LTV with a 2% arrangement fee.
All 5-year products are calculated at ICR payrate, including HMO/MUFB and early repayment charges are 3/2% on 5-year fixed rates and 5/4/3/2/1% on 5-year fixed rates.
Rental income for these products starts from 125% of the monthly mortgage payment and they are applicable for purchase or remortgage purposes.
Each BTL product has a minimum loan size of £25,001 and a maximum loan size of £1m.
The product range caters for first-time landlords, portfolio landlords and limited companies covering a variety of BTL investments including HMOs and MUFBs.
Ross Turrell, commercial director at CHL Mortgages, said: “Since launching four months ago, we have applied a competitive but cautious approach to our product pricing as our commitment to delivering a consistent service offering is paramount and underpins our lending proposition.
"Our wide distribution footprint with clubs, networks and Directly Authorised broker firms, means that we are confident that by making such competitive changes across our range will prove extremely popular and introduce us to many more new brokers seeking to use CHL Mortgages for the first time.”
