CHL Mortgages introduces new 5-year and 2-year fixed rate products
09 November 2022
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has re-launched 5-year and 2-year fixed rate products across all ranges to complement the recently launched Lifetime Tracker products. All the fixed rate products are available to a maximum of 70% LTV, with a 3% product fee. The 5-year fixed rate products have an early repayment charge (ERC) percentage of 5/4/3/2/1, while 2-year fixed rate products have an ERC percentage of 3/2.
Core Product Range
Individuals & Limited Companies/LLP
- 5-year fixed interest rate of 6.64%
- 2-year fixed interest rate of 6.60%
Small HMOs & MUFBs
- 5-year fixed interest rate of 6.74%
- 2-year fixed interest rate of 6.70%
Large HMOs & MUFBs
- 5-year fixed interest rate of 6.79%
- 2-year fixed interest rate of 6.75%
Short Term Lets
- 5-year fixed interest rate of 6.74%
- 2-year fixed interest rate of 6.70%
Refurbishment Product Range
Light Refurbishment
- 5-year fixed interest rate of 6.79% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.75% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.84% (Small HMO/MUFB)
- 2-year fixed interest rate of 6.80% (Small HMO/MUFB)
EPC Improvement
- 5-year fixed interest rate 6.79% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.75% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.84% (Small HMO/MUFB)
- 2-year fixed interest rate of 6.80% (Small HMO/MUFB)
Cosmetic Improvement
- 5-year fixed interest rate of 6.74% (Individual and Limited Company/LLP)
- 2-year fixed interest rate of 6.70% (Individual and Limited Company/LLP)
- 5-year fixed interest rate of 6.79% (Small HMO/MUFB)
- 2-year fixed interest rate of 6.75% (Small HMO/MUFB)
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:
“We know that our intermediary partners find it challenging to make the rental calculations work for their landlord clients in the current economic climate. The launch of the 5-year fixed rate products, stressed at pay rate are designed to assist and potentially generate a higher maximum advance. Furthermore, we lock in the ICR Calculation on our Lifetime Tracker products at the application stage once all the fees are paid.”
