CHL Mortgages has relaunched its range of variable rate products to include lifetime and three-year Bank of England base rate trackers across core and refurbishment offers.
The specialist mortgage firm says both products are available at a maximum of 75% loan to value, 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 early repayment charge of 3% and 2%.
Highlights of its core range available to 75% LTV include:
Individuals & Limited Companies/LLP:
- Three-year tracker at 6.70%, with BBR plus 2.20%
- Lifetime tracker at 6.95%, with BBR plus 2.45%
Small HMOs & MUFBs:
- Three-year tracker at 6.85%, with BBR plus 2.35%
- Lifetime tracker at 7.10%, with BBR plus 2.60%
Large HMOs & MUFBs:
- Three-year tracker at 6.95%, with BBR plus 2.45%
- Lifetime tracker at 7.20%, with BBR plus 2.70%
Short-term lets
- Three-year tracker at 7.00%, with BBR plus 2.50%
- Lifetime tracker at 7.25%, with BBR plus 2.75%
Highlights of its refurbishment range available to 75% LTV include:
Light refurbishment
- Individual and limited company/LLP: Lifetime tracker at 7.15%, with BBR plus 2.65%
- Small HMO/MUFB: Lifetime tracker at 7.25%, BBR plus 2.75%
Cosmetic improvement
- Individual and limited company/LLP: Lifetime tracker at 7.05%, BBR plus 2.55%
- Small HMO/MUFB: Lifetime tracker at 7.15%, with BBR plus 2.65%
Energy performance certificate improvement
- Individual and limited company/LLP: Lifetime tracker at 7.10%, with BBR plus 2.60%
- Small HMO/MUFB: Lifetime tracker at 7.20%, with BBR plus 2.70%
The firm says the energy performance certificate improvement product is designed for landlords who want to improve the energy efficiency of their buy-to-let property to meet government legislation for existing rented properties to have a minimum rating of C or higher from 2025.
CHL Mortgages commercial director Ross Turrell says: “Through our blended interest cover ratio approach, customers in different tax bandings could potentially raise additional capital.”
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