CHL, HSBC, Foundation and YBS Commercial announce price changes Mortgage Finance Gazette

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CHL Mortgages has launched limited edition products and reduced rates by 30 basis points across its short-term let range.

The specialist lender’s new limited edition products start from 2.70% for single dwelling properties and from 2.80% for HMO and MUFB properties with up to six bedrooms or units.

The lender has also reduced rates by 30bps across its short-term let range with rates now starting from 3.16% for landlords who intend to let a property for a short period, such as a holiday let or serviced apartments.

All products are open to individual and limited company landlords, with up to 80% loan-to-value (LTV) available, a choice of fee options and free valuations on selected short-term lets.

Elsewhere, HSBC has scheduled wide-ranging rate cuts across both residential and buy-to-let product ranges tomorrow.

However, the lender never gives brokers advance notice of what the new rates will be.

Foundation has announced it will withdraw the majority of its BTL products tomorrow with new rates being launched on Thursday.

Meanwhile, YBS Commercial will reduce some of its rates.

The commercial lender is reducing the price of its new business range of five-year fixes by 0.15%.

This includes those for portfolio landlords looking for a BTL deal, as well as to the specialist products for HMOs and MUFBs.

Highlights of the new range include a five-year fixed rate for BTL clients, which has been reduced from 5.05% to 4.90%, available up to 55% LTV, with a 3% fee and a five-year fix for clients with a multi-unit freehold block, cut from 5.80% to 5.65%, available up to 65% LTV with a 2% fee.

In addition, a five-year fixed rate for investors looking for a semi-commercial product has been lowered from 6.10% to 5.95%, available up to 65% LTV, which comes with a 2% fee.

Discounts also apply to the lender’s owner-occupied, commercial investment and semi-commercial products designed for part-residential, part-commercial assets.

There are no changes to two-year, fixed-rate products.