CHL Mortgages has reduced its rates across all five-year and two-year fixed rate buy-to-let mortgages by up to 0.50 percentage points.
A 0.45 percentage point reduction has been applied to five-year fixed rate Individual and Limited Company/LLP products, now at 6.19%.HMO/MUFB five-year fixed rate products are reduced by 0.50 percentage points.
Small HMO/MUFB (for up to 6 bedrooms/units) now has a rate of 6.24%, while the rate for the large HMO/MUFB product (for up to 10 bedrooms/units) sits at 6.29%.
The five-year short-term-let fixed rate product has also reduced by 0.50 percentage points and is now 6.24%.
A cut of 0.45 percentage points has been applied to all five-year fixed rate products in the Refurbishment range, with rates starting from 6.29%. The two-year fixed Refurbishment products are reduced by 0.40 percentage points, with rates now starting from 6.30%.
All five-year fixed rate products are available to a maximum of 70% LTV, with a 3% product fee and have an ERC percentage of 5/4/3/2/1. The two-year fixed Refurbishment products are also available to a maximum of 70% LTV, with a 3% product fee, with the ERC percentage, in this case, being 3/2.
Pricing of the Lifetime Tracker products in the Refurbishment range remains unchanged.
New Core Product Range:
Individuals & Limited Companies/LLP:
- Five-year fixed interest rate of 6.19%
Small HMOs & MUFBs:
- Five-year fixed interest rate of 6.24%
Large HMOs & MUFBs:
- Five-year fixed interest rate of 6.29%
Short Term Lets:
- Five-year fixed interest rate of 6.24%
New Refurbishment Product Range:
Light Refurbishment:
- Five-year fixed interest rate of 6.34% (Individual and Limited Company/LLP)
- Two-year fixed interest rate of 6.35% (Individual and Limited Company/LLP)
- Five-year fixed interest rate of 6.39% (Small HMO/MUFB)
- Two-year fixed interest rate of 6.40% (Small HMO/MUFB)
EPC Improvement:
- Five-year fixed interest rate 6.34% (Individual and Limited Company/LLP)
- Two-year fixed interest rate of 6.35% (Individual and Limited Company/LLP)
- Five-year fixed interest rate of 6.39% (Small HMO/MUFB)
- Two-year fixed interest rate of 6.40% (Small HMO/MUFB)
Cosmetic Improvement:
- Five-year fixed interest rate of 6.29% (Individual and Limited Company/LLP)
- Two-year fixed interest rate of 6.30% (Individual and Limited Company/LLP)
- Five-year fixed interest rate of 6.34% (Small HMO/MUFB)
- Two-year fixed interest rate of 6.35% (Small HMO/MUFB)
Ross Turrell (pictured), commercial director at CHL Mortgages, said: “As the money markets have stabilised, we have taken the opportunity to reduce our rates.
“The reduction in the five-year fixed rate products which are stressed at pay rate should help our intermediary partners help generate a higher maximum advance for their landlord clients.”