CHL Mortgages has lowered fixed rates on its buy-to-let mortgage range.
The specialist buy-to-let lender’s CHL 1 product range has seen reduction by up to 0.65%.
The CHL 1 product, launched last November, was designed for customers with a clean credit history and consists of standard buy-to-let and Small HMO/MUFB product types.
All CHL Mortgages products are available to individuals and limited companies.
The lowest interest rate in the CHL 1 range is 3.06% for a two-year fixed standard buy-to-let product up to 65% LTV, with a 7% fee.
The equivalent Small HMO/MUFB product is reduced to 3.08%. Higher LTVs are available with 70% LTV products starting from 3.15% (standard buy-to-let) and 3.17% (Small HMO/MUFB).
While 75% LTV options start from 4.34% (standard buy-to-let) and 4.35% (Small HMO/MUFB).
Five-year fixed rates under CHL 1 now start from 4.47% (standard buy-to-let) and 4.56% (Small HMO/MUFB) for the 65% LTV products.
The 70% LTV options start at 4.52% (standard buy-to-let) and 4.59% (Small HMO/MUFB), with 75% LTV products from 4.57% (standard buy-to-let) and 4.62% (Small HMO/MUFB).
Product fees for CHL 1 are available in 2%, 5% and 7% options.
CHL Mortgages commercial director Ross Turrell said: “With five-year swap rates improving on the back of better global inflation forecasts we are pleased to bring in some welcome rate reductions for the hard-pressed Buy-to -Let sector. This along with a steady increase in rents will see the affordability calculations start to go back into equilibrium.”
