Specialist lender CHL Mortgages has reduced its buy-to-let (BTL) mortgage rates by as much as 0.49%.
Now, CHL Mortgages’ product rates begin from 2.68% for a two-year fix and 4.29% for a five-year fix against a standard property.
For small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) up to six bedrooms or units, the lender’s two-year fixed rates start from 2.86% and five-year fixes start from 4.35%.
For large HMO and MUFB properties with up to 10 bedrooms or units and complex properties such as adapted HMOs with bespoke accommodation and hybrid multi-units with self-contained and HMO elements, CHL Mortgages has two-year fixed rates starting from 4.45% and five-year fixes from 5.89%.
Across its short-term let range, which is available to property investors who use Airbnb, holiday lets and serviced accommodation, rates start from 5.43% for a two-year fix and 5.89% for a five-year fix.
The CHL Mortgages products are available to individual borrowers and limited company landlords, with a choice of fee options up to 75% loan to value (LTV).
Ross Turrell, commercial director at CHL Mortgages, said: “This rate reduction reflects a renewed confidence that things are moving in the right direction following the Bank of England’s recent decision to cut the interest rate for the first time in more than four years.
“By reducing rates across our CHL1 and CHL2 ranges, we’re giving brokers even more opportunities to help their landlord customers achieve their buy-to-let ambitions.”
Foundation Home Loans cuts mortgage rates and launches fee-assisted residential ‘specials’
Specialist lender Foundation Home Loans has cut rates across its Buy to Let by Foundation and Residential by Foundation fixed rate ‘specials’ product ranges by up to 0.3%.
This includes its F1 five-year fixed rate ‘specials’ options for portfolio landlords, where mortgage rates have been reduced by as much as 0.05% and now start from 4.84% with a 6% fee. These products are available up to 75% LTV.
Its fee-assisted five-year ‘special’ portfolio landlord-only option, which has no application fee and one free valuation, has been reduced by up to 0.1%. The rates now begin from 4.99% with a 5% fee, up to 75% LTV.
Its other buy-to-let (BTL) ‘specials’ products have been reduced by 0.25% for HMO lending. Pricing now begins from 5.14% with a 3% fee.
Within the F1 and F2 tiers of the lender’s residential range, two- and five-year fee-assisted fixed rate ‘specials’ have been reduced by up to 0.3%. Rates now start from 6.19% with a £795 fee, free valuation and no application fees, available up to 65% LTV.
The lender has also launched four fee-assisted residential ‘specials’ up to 75% LTV.
These have been launched in the F1 and F2 tiers, including two- and five-year fixed rates starting from 6.29% up to 75% LTV. These products have a £795 fee, free valuation and no application fees.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “At Foundation Home Loans, we’re committed to providing our intermediary partners with competitive and versatile product options that meet the evolving needs of their clients. Our latest rate reductions across the Buy to Let by Foundation and Residential by Foundation ranges, along with the introduction of four new fee-assisted residential specials, underline our dedication to delivering value and flexibility.
“With rates reduced by up to 0.3% and enhanced features such as no application fees and free valuations on selected products, we’re confident that these changes will enable intermediaries to offer even more attractive solutions to their clients, helping them secure the best possible outcomes in today’s dynamic market.”
He added: “Our service excellence, with average turnaround times of just one day for underwriter review, ensures that we remain a trusted and reliable partner in every step of the mortgage process.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
