CHL Mortgages launches lifetime tracker products




Intermediary-only specialist BTL lender CHL Mortgages has introduced new lifetime tracker products across its core and refurbishment ranges.

The options are available at up to 70% LTV, with a 2% product fee across the range and a two-year ERC of 3% in year one and 2% in year two.

CHL’s core range now includes a lifetime tracker for individuals and limited companies currently available at 5.20% (Bank Base Rate + 2.95%), tracker products for small and large HMOs and MUFBs priced at 5.30% (BBR + 3.05%) and 5.35% (BBR + 3.10%) respectively, and a short-term let tracker at 5.30% (BBR + 3.05%).

Meanwhile, the refurbishment product range now has light refurbishment and cosmetic improvement lifetime trackers, with options for individuals, limited companies and small HMOs/MUFBs.

Rates for the light refurbishment and cosmetic improvements start from 5.34% (BBR + 3.09%) and 5.31% (BBR + 3.06%), respectively.

The lender has also introduced trackers for EPC improvements priced at 5.34% (BBR + 3.09%) for individuals and limited companies, and 5.39% (BBR + 3.14%) for small HMOs and MUFBs.

The full CHL Mortgages product range caters for first-time and portfolio landlords, limited companies and LLPs.

Ross Turrell, commercial director at CHL Mortgages (pictured above), commented: “Our new lifetime trackers with a two-year ERC are a great option for landlords wanting to purchase or remortgage.

“They offer a potentially lower monthly payment versus fixed-rate alternatives in the current market, along with the flexibility to move into fixed rate products after two years.”

 

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