The largest reductions have been made to its short-term let products, while its limited-edition BTL offering has been reduced by as much as 0.1%.
Its limited-edition rates for single dwelling properties now start from 2.85%, and houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) with up to six bedrooms or units from 2.95%.
Further, rates for short-term let properties, such as holiday lets or serviced accommodation apartments, now start from 3.46%.
The products are available up to 80% loan to value (LTV) with a choice of fees, open to individual and limited company landlords. Free valuations are also available on selected short-term let deals.
Roger Morris, Chetwood Bank group distribution director for CHL Mortgages and ModaMortgages, said: “We’re delighted to be able to make these rate cuts across our limited edition and short-term let product ranges.
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“The reductions reflect our focus on delivering greater value for landlords while giving them the opportunity to diversify their portfolios and explore other investment opportunities.”
Yesterday, the firm completed a £5m portfolio refinance.
Gatehouse Bank lowers rental rates
Gatehouse Bank has reduced rental rates on two-year fixed BTL products for UK expats and international residents by 0.29%.
This includes its green home finance range and borrowing against HMOs and MUFBs.
Gatehouse Bank also accepts applications from individual borrowers and limited company borrowers.
Its green home finance products, available for purchasing or refinancing a home with an energy-efficiency rating of A or B, have a 0.1% reduction on the rental rate. Gatehouse Bank will offset the carbon emissions generated by the average UK property for the initial fixed term.
Rental rates on two-year fixed BTL deals now start at 4.91% for UK expats and 4.92% for international residents.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “While the home finance market is navigating a particularly volatile time, we are regularly reviewing rates to ensure they are competitive within our niche sector and that customers are still able to access the property finance they need.
“The UK market continues to be a highly attractive investment option for those residing overseas and we welcome the opportunity to support even more overseas residents as they enter or continue to expand their portfolio within the BTL market.”
