The product is strategically placed to deliver high volumes of buy-to-let business for CHL in what is set to be a record year for the buy-to-let and self-certification niche lender. The 0.49% tracker is targeted at landlords looking for a longer-term product that offers exceptional value throughout its term.
Mike Healy, Head of Sales, said: “Some analysts are predicting that the next interest rate movement will be downwards, so this is a fantastic product for the buy-to-let investor who wants to take advantage of a product that provides a very competitive rate for the term of loan.”
“This is possibly the best buy-to-let product on the market at the present time and one we expect will be extremely popular. Let’s make this clear, the 0.49% is for the full term of the loan, unlike other products which offer a good rate for a limited period and then revert to a much higher rate.”
The 125% rental cover calculation is currently based on 4.99%. An early repayment charge of 5% is payable until 31/3/2009. There is a 1.5% completion fee, which can be added to the loan. Ltd company lending and students lets are eligible. The product has an 85% LTV limit and no accounts are required up to £2m
