BTL lenders slash rates as mortgage market heats up

BTL lenders have announced rate cuts as the market shows signs of improvement.

Aldermore and CHL mortgages are among a slew of lenders that have cut rates in their buy-to-let mortgage products.

These rate cuts come as lenders aim to boost activity in the buy-to-let market.

Lively mortgage market

Aldermore has introduced a range of new limited edition rates for landlords across its buy-to-let (BTL) mortgages.

For new customers, the BTL limited edition range has rates reduced by up to 0.20% across both two-year fixed and five-year fixed mortgages (up to 75% LTV).

These rates are available for individual and company landlords with both single and multiple residential investment properties.

Jon Cooper, director of mortgages at Aldermore, said: “It’s a lively mortgage market right now, which presents opportunities for brokers supporting landlords who are looking to expand their portfolios.

“These products give brokers more choice, reflecting Aldermore’s commitment to backing them in meeting their clients’ evolving needs.”

Offering customers even greater choice

Specialist lender CHL Mortgages has announced it is cutting rates by up to 0.20% across its limited edition buy-to-let products.

The reduction means the lender’s range now features standard two-year fixed rate mortgages starting from 3.67%, with 5-year fixed rates starting from 4.24%.

For investors looking to purchase small HMOs or MUFBs with up to six bedrooms or units, rates for 5-year fixed rates now start from 4.28%.

Mortgages are available to individual and limited company landlords and borrowers can choose from a selection of fee options, with LTVs up to 75%.

Ross Turrell, commercial director at CHL Mortgages, said: “This latest round of rate reductions shows our commitment to making sure brokers have the products their customers need at their disposal.

“By reducing our rates by up to 20bps, customers now have even greater choice when selecting a product and the reductions will help when it comes to calculating affordability.”

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