Specialist lender CHL Mortgages for Intermediaries has reduced rates across its buy-to-let (BTL) mortgages for short-term lets.
Pricing has been reduced by up to 1.19%, and the range is available to borrowers who intend to let a property for a short period, such as a holiday let or serviced apartment.
Across the range, two-year fixed rates start at 4.39%, while five-year fixes begin at 5.24% – all available at 75% loan to value (LTV).
CHL Mortgages for Intermediaries offers fees of 3.5% or 5% on the two-year fixes and 3.5%, 5% or 7% on the five-year fixes.
Ross Turrell, commercial director at CHL Mortgages, said: “We believe this rate reduction will support landlords looking to diversify their portfolios and explore other investment opportunities.
“With people starting to think about their summer holidays, holiday lets and serviced apartments are a great alternative to hotels and let people stay in the location of their choice, while enjoying high-quality self-catering accommodation.”
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Hampden & Co adds three-year fix
Private bank Hampden & Co has added three-year fixed rates to its offering, in addition to its two- and five-year terms and variable rates.
Products can be offered on a capital and interest, interest-only, or part and part basis.
Its deals are priced at 5.59% for two-year fixes, 5.54% for three-year fixes and 5.49% for five-year fixes.
The three-year fixed rates are available for residential, guarantor, self-build, retirement, multi-property and BTL lending.
Mark Plummer, head of private banking for London at Hampden & Co, said: “We tailor lending to the specific needs of our clients. Adding a three-year fixed rate provides clients with another option to help match their borrowing to their circumstances over the medium term.”
In its half-year results for 2024, the bank reported a lending total of £555m, 20.4% higher than the £461m completed in the first six months of 2023. Hampden & Co said this strong performance was on the back of support from mortgage intermediaries.
