CHL Mortgages has cut its buy-to-let fixed-rate loans by up to 39 basis points.
The specialist lender says individual and limited company two-year fixed-rate deals start from 5.40%, down by 35bps. Five-year fixed-rate offers are now available from 5.27%, reduced by up to 34bps.
Its largest rate cut of 39bps is for houses of multiple occupation/multi-unit freehold blocks two-year fixed-rate products, now available from 5.41%. Five-year fixed-rate options have been cut by up to 36bps, starting at 5.30%.
The firm’s refurbishment range has been reduced by up to 36bps, with five-year fixed-rate offers beginning at 5.23%.
CHL Mortgages commercial director Ross Turrell says: “With long-term interest rates showing signs of stability we are seeing this latest round of welcome rate cuts.
“For the BTL market, we also have rents improving, tenant affordability increasing as wage rises kick in and a softening of house prices in real terms, taking account of inflation.
“This has improved the prospects for the landlord and we should see the sector start to gradually move forward as we head into 2024”.
