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CHL Mortgages reprices 5-year fixed products.

04 July 2023

CHL Mortgages has added a new 5% fee option to their Light Refurbishment product and repriced the 5-year fixed rate products across the product ranges.

All 5-year fixed rate products come with an ERC percentage of 5/4/3/2/1. The lifetime tracker has a 2-year ERC of 3/2.

Core Product Range

Individuals & Limited Companies/LLP
• 70% LTV 5-year fixed interest rate of 6.68% with 5% fee
• 70% LTV 5-year fixed interest rate of 7.17% with 3% fee
• 75% LTV 5-year fixed interest rate of 7.48% with 2% fee
• 75% LTV Lifetime tracker interest rate of 7.45% (BBR+2.45%) with 2% fee

Small HMOs & MUFBs
• 70% LTV 5-year fixed interest rate of 6.73% with 5% fee
• 70% LTV 5-year fixed interest rate of 7.22% with 3% fee
• 75% LTV 5-year fixed interest rate of 7.53% with 2% fee
• 75% LTV Lifetime tracker interest rate of 7.60% (BBR+2.60%) with 2% fee

Large HMOs & MUFBs
• 70% LTV 5-year fixed interest rate of 6.78% with 5% fee
• 70% LTV 5-year fixed interest rate of 7.27% with 3% fee
• 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
• 75% LTV Lifetime tracker interest rate of 7.70% (BBR+2.70%) with 2% fee

Short Term Lets
• 70% LTV 5-year fixed interest rate of 6.73% with 5% fee
• 70% LTV 5-year fixed interest rate of 7.22% with 3% fee
• 75% LTV 5-year fixed interest rate of 7.53% with 2% fee
• 75% LTV Lifetime tracker interest rate of 7.75% (BBR+2.75%) with 2% fee

Refurbishment Product Range

Light Refurbishment
• Individual and Limited Company/LLP 70% LTV 5-year fixed interest rate of 6.83% with 5% fee
• Small HMO/MUFB 70% LTV 5-year fixed interest rate of 6.88% with 5% fee
• Individual and Limited Company/LLP 75% LTV 5-year fixed interest rate of 7.63% with 2% fee
• Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.68% with 2% fee
• 75% LTV Lifetime tracker interest rate of 7.65% (BBR+2.65%) with 2% fee (Individual and Limited Company/LLP)
• Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.75% (BBR+2.75%) with 2% fee

EPC Improvement
• Individual and Limited Company/LLP 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
• Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.63% with 2% fee
• Individual and Limited Company/LLP 75% LTV Lifetime tracker interest rate of 7.60% (BBR+2.60%) with 2% fee
• Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.70% (BBR+2.70%) with 2% fee

Cosmetic Improvement
• Individual and Limited Company/LLP 75% LTV 5-year fixed interest rate of 7.53% with 2% fee
• Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
• Individual and Limited Company/LLP 75% LTV Lifetime tracker interest rate of 7.55% (BBR+2.55%) with 2% fee
• Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.65% (BBR+2.65%) with 2% fee

Ross Turrell, Commercial Director, CHL Mortgages, commented:
“In this challenging economic climate, 5-year fixed rates provide the stability of payments for landlords and enable lenders to take a lower rental cover calculation by using the pay rate”.