CHL Mortgages, the intermediary-only specialist buy-to-let lender, has cut rates across its 75 per cent LTV product range by up to 15bps.
Five-year fixed rates now start from 3.10 per cent at 75 per cent LTV on individual and limited company with HMO & MUFB two-year starting from 3.39 per cent and five-year from 3.48 per cent.
The changes in full are as follows:
- Individual and limited company buy-to-let range (up to 75 per cent LTV)
o Two-year fixed now 3.15 per cent (1.5 per cent arrangement fee unchanged)
o Five-year fixed now 3.10 per cent (2 per cent arrangement fee unchanged)
o Five-year fixed now 3.30 per cent (1 per cent arrangement fee unchanged)
- HMO and MUFB buy-to-let range (up to 75 per cent LTV)
o Two-year fixed now 3.39 per cent (2 per cent arrangement fee unchanged)
o Five-year fixed now 3.48 per cent (2 per cent arrangement fee unchanged)
o Five-year fixed now 3.68 per cent (1 per cent arrangement fee unchanged)
In addition, at 65 per cent LTV for individuals and limited companies, the 3.19 per cent five-year fixed now has a reduced arrangement fee of 1 per cent. Early repayment charges are 3/2 for two-year fixed and 5/4/3/2/1 for five-year fixed.
ICR starts from 125 per cent of the mortgage payment and is calculated at payrate for all five-year products on both purchase and re-mortgage, including HMO/MUFB.
Ross Turrell, commercial director of CHL Mortgages, said: “We’ve seen positive movement in the markets with long term swap rates improving and so have moved quickly to pass these savings onto landlords through our intermediary partners.
He added: “The buy-to-let marketplace is hugely competitive and it’s important to outline our product and service values on an ongoing basis. Passing on these savings – alongside no loading on our valuation fees – demonstrates our commitment to promoting transparency throughout our proposition. Attributes we will continue to build on in H2 2021.”
