CHL Mortgages has re-launched five-year and two-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 five-year fixed rate products have an early repayment charge (ERC) percentage of 5/4/3/2/1, while two-year fixed rate products have an ERC percentage of 3/2.
Ross Turrell, commercial director at CHL Mortgages, said: “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.”
Some of the highlights from the range includes a five-year fixed interest rate of 6.64% for individuals and limited companies/LLP, a two-year fixed rate of 6.70% for small HMOs & MUFBs, a five-year fixed rate of 6.74% for short term lets, as well as a two-year fixed interest rate of 6.75% for large HMOs & MUFBs.
As well as this, the range offers a variety of refurbishment products that cater to those looking to make cosmetic improvements to their property.
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.
