Mortgage Finance Gazette
CHL Mortgages has reduced landlord prices by as much as 37 basis points, with its standard buy-to-let two-year fixed-rate deals now starting at 3.00%.
The specialist lender adds that its standard five-year fix begins at 4.35%.
While houses in multiple occupation/multi-unit freehold block two-year fixes are available from 3.02%, with five-year fixes starting at 4.42%.
The firm says products are available with 2%, 5% and 7% fee options and loan-to-value bandings of 55%, 65%, 70% and 75%.
It adds that interest cover ratio is calculated at pay rate for five-year fixes and the higher of 5.5%, or pay rate plus 2% for two-year fixed rates.
CHL Mortgages commercial director Ross Turrell says: “As we move ever closer to the point at which the Bank of England will reduce the base rate, we see improvements on the forward swap curves.
“As a result, we’re pleased to be able to reduce both two-year and five-year fixed rates, which in turn will offer more choice for brokers and the landlord community.”
