They include lifetime and three-year trackers across the lender's core and refurbishment product ranges
Specialist buy-to-let lender CHL Mortgages has reintroduced a range of variable rate products to include lifetime and three-year bank base rate (BBR) trackers across its core and refurbishment product ranges.
Both products are available to a maximum of 75% loan-to-value (LTV) with a 2% product fee. A three-year early repayment charge of 3%/2%/1% applies to the three-year tracker, with the lifetime tracker offered with a two-year ERC of 3%/2%.
On the lender’s core range, individual landlords and limited companies or limited liability partnership (LLP) can avail of a three-year tracker at 6.70% (BBR plus 2.20%) or a lifetime tracker at 6.95% (BBR plus 2.45%).
For small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), there is a three-year tracker at 6.85% (BBR plus 2.35%) and a lifetime tracker at 7.10% (BBR plus 2.60%). For large HMOs and MUFBs, the three-year tracker’s rate is 6.95% (BBR plus 2.45%) while the lifetime tracker’s is 7.20% (BBR plus 2.70%).
Short term lets’ three-year tracker has a rate of 7% (BBR plus 2.50%) while its lifetime tracker has a rate of 7.25% (BBR plus 2.75%).
On CHL’s refurbishment range, individuals and limited companies or LLPs doing light refurbishment can pick up a lifetime tracker at 7.15% (BBR plus 2.65%). For light refurbishment on small HMOs or MUFBs, the lifetime tracker’s rate is 7.25% (BBR plus 2.75%).
For individuals and limited companies, or LLPs doing cosmetic improvement, a lifetime tracker at 7.05% (BBR plus 2.55%) is available. Cosmetic improvement on small HMOs or MUFBs has a lifetime tracker with a rate of 7.15% (BBR plus 2.65%).
Individual landlords and limited companies, or LLPs doing energy performance certificate (EPC) improvements, can get a lifetime tracker at 7.10% (BBR plus 2.60%). For the same improvements on small HMOs or MUFBs, a lifetime tracker at 7.20% (BBR plus 2.70%) is available.
The firm said the EPC improvement product is designed for landlords looking to improve the energy efficiency of their BTL property to meet the UK government’s proposal for existing rented properties to have a minimum EPC rating of ‘C’ or higher from 2025.
“If you have landlord clients who are looking to purchase or remortgage, our products might be the solution,” Ross Turrell (pictured), commercial director at CHL Mortgages, commented. “Through our blended ICR approach, customers in different tax bandings could potentially raise additional capital.”
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