Rates for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) start slightly higher at 3.43%.

For longer-term planners, five-year fixed-rate mortgages begin at 4.76% for standard properties and 4.83% for HMO or MUFB products.

Interest coverage ratio (ICR) calculations for these products vary by term. The five-year fixed mortgages will use the pay rate for ICR calculations, while the two-year fixed products will apply a formula of 5.5% or the pay rate plus 2%, whichever is higher.

“Despite the recent increasing swap rates, we are still pleased to provide low-rate options to landlords which is a useful solution to assist with cashflow,” said Ross Turrell (pictured), commercial director at CHL Mortgages.

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