CHL launches BTL fixes

The products are available immediately and include the following:

• 4.99 per cent fixed until 31 March 2010. After this date the product reverts to Bank Base Rate (BBR) plus 1.75 per cent, giving a current rate of 7.5 per cent. The product is available up to a maximum LTV of 90 per cent with a completion fee of 1.25 per cent of the advance. There is an early repayment charge (ERC) of 6 per cent of the redeeming balance to 31 March 2012.
• 5.84 per cent fixed until 31 March 2010. From this date the product reverts to BBR plus 1.65 per cent, giving a current rate of 7.4 per cent. It is available up to a maximum LTV of 85% and has a completion fee of £1,799. There is an ERC of 6% of the redeeming balance up until the end of the fixed rate period.
• 5.84 per cent fixed until 31 March 2010. This product is available up to 90 per cent LTV and has a completion fee of 1.5 per cent of the advance. Again, it reverts to BBR plus 1.65 per cent at the end of the fixed rate period and has an ERC of 6 per cent of the redeeming balance up until this time.

All three products require 115

• per cent rental cover at the interest rate chosen and benefit from a procuration fee of 0.5 per cent with no cap.

CHL’s fixed rate buy-to-let range also includes a stepped fixed product plus two remortgage-only fixes with free legal fees if Goldsmith Williams Solicitors are provided. Plus a 5.49

• per cent fixed rate product with 100 per cent rental cover is available for selected customers. The buy-to-let range also includes a range of discount tracker and tracker products.

Trevor Child, head of sales and marketing at CHL Mortgages, commented: “At CHL we continue to offer real competitive value with our buy-to-let range and these three fixed-rate products add considerably to our overall offering. Intermediaries should also be aware of the range of criteria that comes with CHL’s buy-to-let products. This includes our ability to lend on housing associations and council leases; to lend to owners of multi-let properties; to lend to any type of limited company; and we will also lend on freehold properties let as flats. CHL is able to offer all types of buy-to-let clients the criteria they want at the rates they desire.”