Foundation Home Loans has launched a new limited edition five-year product to bolster its core buy-to-let (BTL) proposition. Available for both purchase and remortgage purposes, the intermediary-only specialist lender’s F1 limited edition five-year BTL fixed rate comes with a rate of 5.64%, up to 75% LTV and 1.50% fee. This follows the December repricing of selected products across Foundation’s core BTL range with rate reductions of up to 0.20%. Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review cases.

CHL Mortgages has lowered rates by up to 0.65% on its CHL 1 BTL product range, which was launched in November last year. CHL 1 has been specially designed for customers with a clean credit history and consists of standard BTL and small HMO/MUFB product types. All of the lender’s mortgage products are available to individuals and limited companies. The lowest interest rate in the CHL 1 range is 3.06% for a two-year fixed standard BTL product up to 65% LTV with a 7% fee. The equivalent small HMO/MUFB product is also reduced to 3.08%. Five-year fixed rates under CHL 1 start from 4.47% for standard BTL products and 4.56% for small HMO/MUFB products at 65% LTV. Rates are also available across the range at 70% and 75% LTV, and products fees are available at 2%, 5% and 7%.

NatWest has announced rate cuts across its residential and BTL purchase and remortgage ranges. In its residential range, two-year fixed rate remortgage products are available from 4.72%, a drop of 40 bps, with the largest cuts being made to 75% LTV products. Two-year fixed purchase products have also been reduced by 0.42%, now starting at 4.60% with a £1,495 fee. In the bank’s BTL range, two-year fixed rate purchase products have been reduced by up to 0.25%, starting from 5.29%, whilst remortgage rates are down by 0.46%, with the largest reduction to 75% LTV products. Five-year BTL purchase products have also been cut by up to 0.40%, available from 4.78% with the largest reduction being made to a fee-free 60% LTV product.

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