Five-year fixed products are also available, starting at 4.55% for standard buy-to-let and 4.62% for HMO and MUFB products.
For income coverage ratio (ICR) calculations, the five-year fixed products use the pay rate, while the two-year fixed products use either 5.5% or the pay rate plus 2%, whichever is higher.
Earlier this year, CHL implemented changes to its product offering, reintroducing more options and reducing rates on some of its buy-to-let products.
“The roller coaster of swap rates continues with the five-year fixed swap once again breaching 4%,” said Ross Turrell (pictured), commercial director at CHL Mortgages. “With pressure on the ICR calculation, we are seeing more demand for subsidised lower rates and have broadened our range with a mid-point fee option.”
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