It implements rate cuts of up to 78 basis points on its CHL 2 product range
After slashing rates across its CHL 1 product range, CHL Mortgages has announced reductions in buy-to-let fixed rates within its CHL 2 product range.
The specialist buy-to-let lender has implemented rate cuts of up to 78 basis points on the CHL 2 product range, which distinguishes itself with flexible criteria, tailored to accommodate the more complex client and property types.
The range includes standard buy-to-let, small and large house in multiple occupation (HMO), multi-unit freehold block (MUFB), short term lets, and the light refurbishment range.
Within the CHL 2 range, the lowest interest rates can be found in the five-year fixed product at up to 70% loan-to-value (LTV) and with a 7% fee. Rates start from 4.62% for standard buy-to-let, 4.65% for small HMO/MUFB, and 4.80% for large HMO/MUFB.
The light refurbishment range, catering to specific property improvement needs, offers lowered rates as well. For a five-year fixed option at up to 70% LTV and with a 7% fee, rates begin at 4.67% for standard buy-to-let and 4.70% for small HMO/MUFB.
For those opting for a shorter commitment, the two-year fixed options in the CHL 2 range start from 5% for standard buy-to-let at up to 70% LTV with a 5% fee. Short term lets had their rates reduced, with the lowest at 5.08% for a two-year fixed term at up to 70% LTV and with a 5% fee.
In addition, 75% LTV options are available across CHL 2, where rates for a five-year fixed standard buy-to-let with a 3% fee start from 5.61%.
The CHL 2 reprice comes several days after rate reductions were also made on the CHL 1 range, which is tailored for customers with a clean credit history.
“Our CHL 2 product range has been designed to offer broader criteria options for landlords with more complex situations,” Ross Turrell (pictured), commercial director at CHL Mortgages, commented. “As swap rates continue to stabilise, we are pleased to introduce lower-priced products.”
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