CHL Mortgages introduces new Lifetime Tracker products
19 October 2022
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has launched new Lifetime Tracker products across its entire core and refurbishment product ranges.
The Lifetime Tracker products are available to a maximum 70% LTV, with a two-year Early Repayment Charge (ERC) of 3% in year one and 2% in year two. A 2% product fee applies across the range.
Core range Lifetime Trackers to 70% LTV:
Individuals & Limited Companies/LLP:
- Lifetime Tracker at 5.20% (Bank Base Rate plus 2.95%)
Small HMOs & MUFBs:
- Lifetime Tracker at 5.30% (Bank Base Rate plus 3.05%)
Large HMOs & MUFBs:
- Lifetime Tracker at 5.35% (Bank Base Rate plus 3.10%)
Short Term Lets
- Lifetime Tracker at 5.30% (Bank Base Rate plus 3.05%)
Refurbishment Lifetime Trackers to 70% LTV:
Light Refurbishment
- Individual and Limited Company/LLP: Lifetime Tracker at 5.34% (Bank Base Rate plus 3.09%)
- Small HMO/MUFB: Lifetime Tracker at 5.39% (Bank Base Rate plus 3.14%)
Cosmetic Improvement
- Individual and Limited Company/LLP: LTV Lifetime Tracker at 5.31% (Bank Base Rate plus 3.06%)
- Small HMO/MUFB: 70% LTV Lifetime Tracker at 5.35% (Bank Base Rate plus 3.10%)
EPC Improvement
- Individual and Limited Company/LLP: Lifetime Tracker at 5.34% (Bank Base Rate plus 3.09%)
- Small HMO/MUFB: Lifetime Tracker at 5.39% (Bank Base Rate plus 3.14%)
The full CHL Mortgages product range caters for first-time landlords, portfolio landlords, limited companies and LLPs covering a variety of BTL investments including HMOs and MUFBs.
Ross Turrell, Commercial Director, CHL Mortgages commented:
“Our new Lifetime Trackers with a 2-year ERC are a great option for landlords wanting to purchase or remortgage. They offer a potentially lower monthly payment versus fixed rate alternatives in the current market, along with the flexibility to move into fixed rate products after 2 years.”
