CHL cuts BTL fixed rates by up to 50 basis points

CHL Mortgages has reduced rates across its entire range of two- and five-year fixed-rate BTL mortgages.

Five-year fixed-rate individual and limited company products are now priced at 6.19%, a 45-basis point drop, while five-year fixes for HMOs/MUFBs have been cut by 50 basis points.

The short-term let product, meanwhile, has been reduced by 50 basis points to 6.24% for a five-year fix.

All products in the five-year fixed rate refurbishment range have been discounted by 45 basis points, with rates starting from 6.29%, while two-year refurbishment fixes have been cut by 40 basis points, with rates from 6.3%.

Both five- and two-year fixed rate products are available up to a maximum 70% LTV and are subject to a 3% product fee.

Ross Turrell, commercial director at CHL Mortgages (pictured above), commented: “As the money markets have stabilised, we have taken the opportunity to reduce our rates.

“The reduction in the 5-year fixed rate products which are stressed at pay rate should help our intermediary partners generate a higher maximum advance for their landlord clients.”

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