The ranges are CHL 1 and CHL 2.
The former is the lender’s standard buy-to-let range for customers with clean credit history of standard buy-to-let and small houses in multiple occupation (HMO) and multi-unit freehold block.
Prices start from 3.65 per cent for a two-year fixed rate up to 65 per cent LTV. This goes up to 3.72 per cent at 70 per cent LTV and 4.9 per cent at 75 per cent LTV.
Five-year fixed rates at 65 per cent LTV come to 5.1 per cent, 5.14 per cent at 70 per cent LTV and 5.2 per cent at 75 per cent LTV.
CHL 2 has more “flexible criteria”, catering for a range of property types and clients. Two-year fixed rates begin from 5.4 per cent up to 70 per cent LTV and 6.42 per cent at 75 per cent LTV.
Five-year fixed rates start from 5.27 per cent at 70 per cent LTV and 6.26 per cent at 75 per cent LTV.
Product fees in CHL 1 range from two, five and seven per cent, with CHL 2 at two, three, five and seven per cent.
Ross Turrell, commercial director, CHL Mortgages, commented: “We are pleased to announce a further reduction in our pricing and an expanded product range, enabling us to offer our intermediary partners greater choice for their clients.
“With the economy showing signs of recovery, we are confident that these changes will benefit landlords and affirm their optimism in a stabilising buy-to-let market.”
Cambridge BS slashes rates
Cambridge Building Society has cut rates by up to 0.75 per cent across its residential and buy-to-let mortgage deals.
The changes will come into force from tomorrow.
Cambridge Building Society’s product manager Dan Barker said: “We hope that these rate cuts will help our customers with more choice, while also supporting intermediaries and their clients to help landlords looking to refinance or purchase buy-to-let and holiday let properties.”
