CHL Mortgages for Intermediaries has announced a reprice of its buy-to-let range, reducing rates by up to 0.32%.
The specialist lender has reduced rates by up to 32bps on its CHL 1 limited edition range, with two-year fixed rates now starting at 2.35% and five-year fixed rates from 4.40%.
The lender has also reduced rates by 30bps on its CHL 2 two-year fixed rate range with rates now starting from 2.59%, and by 10bps on its CHL 2 five-year fixed rates, now starting from 4.68%.
In addition, it has introduced new 75% LTV two-year fixed rate 7% fee products into its CHL 2 range which could be ideal for investors looking to maximise affordability by paying a higher fee upfront to benefit from lower monthly repayments.
The CHL 1 range offers versatile products for a wide range of property types, from single dwelling buy-to-lets to houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) of up to six bedrooms/units, while the CHL 2 range is aimed at landlords with more complex property types, such as large HMOs and MUFBs of up to 10 bedrooms/units.
All products are open to individual and limited company landlords, with a choice of product fees and up to 75% LTV available.
Darrell Walker (pictured), group sales director for CHL Mortgages for Intermediaries and ModaMortgages, said: “This major reprice across our buy-to-let range, with reductions of up to 32bps, reinforces our commitment to offering competitive and compelling solutions for landlords.
“Alongside these rate cuts, the launch of a new product into our CHL 2 range will provide investors with even more choice when looking to potentially make savings in the long run by paying a higher fee up front.”
