CHL Mortgages reduces 5-year fixed rates up to 0.34bps and introduces new 2-year fixed rates.

27 September 2023

pecialist buy-to-let lender CHL Mortgages has reduced fixed rates across all product ranges. Individual and Limited Company 5-year fixed products now start from 5.61%, whilst a newly introduced 2-year fixed product range is priced from 5.75% providing a great short-term solution.

HMO/MUFB products now start from 5.66% for a 5-year fixed with a 2-year fixed option from 5.80%.

The Short Term Lets 5-year fixed products start from 6.15%, with a 2-year fixed option priced from 5.80%.

5-year and 2-year fixed rate products across the core range are available up to 75% LTV with multiple fee options to choose from across the range to support landlord needs dependant on their circumstances.

The lenders’ Refurbishment range products are available up to 75% LTV with interest rates now starting from 5.66%. The range is designed to help landlords improve their properties by offering the ability to release the refurbishment costs upon completion of works without the need to switch to an alternative product.

All 5-year fixed rate products ICR (Interest Cover Ratio) are calculated at pay rate. For applications which include a combination of additional-rate/higher-rate/basic-rate payers, the lender will also consider a “blended ICR” approach to determine loan affordability based on each borrower’s tax status and their personal share of ownership/rent to maximise ICR affordability for its landlord clients.

Ross Turrell, Commercial Director, CHL Mortgages, commented:

“With the economy and the financial markets showing signs of stability, we're pleased to be able to lower interest rates and when combined with flexible fee options, affordability for the landlord continues to improve.”