CHL Mortgages reprices 5-year fixed rate products

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Mortgage Soup
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CHL Mortgages has repriced the five-year fixed rate mortgages across its product ranges.

The specialist buy-to-let lender has also added a new 5% fee option to its Light Refurbishment product.

All five-year fixed rate products come with an ERC percentage of 5/4/3/2/1. The lifetime tracker has a two-year ERC of 3/2.

The changes are as follows:

Core Product Range:

Individuals & Limited Companies/LLP:

  • 70% LTV 5-year fixed interest rate of 6.68% with 5% fee
  • 70% LTV 5-year fixed interest rate of 7.17% with 3% fee
  • 75% LTV 5-year fixed interest rate of 7.48% with 2% fee
  • 75% LTV Lifetime tracker interest rate of 7.45% (BBR+2.45%) with 2% fee

Small HMOs & MUFBs:

70% LTV 5-year fixed interest rate of 6.73% with 5% fee
70% LTV 5-year fixed interest rate of 7.22% with 3% fee
75% LTV 5-year fixed interest rate of 7.53% with 2% fee
75% LTV Lifetime tracker interest rate of 7.60% (BBR+2.60%) with 2% fee

Large HMOs & MUFBs:

  • 70% LTV 5-year fixed interest rate of 6.78% with 5% fee
  • 70% LTV 5-year fixed interest rate of 7.27% with 3% fee
  • 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
  • 75% LTV Lifetime tracker interest rate of 7.70% (BBR+2.70%) with 2% fee

Short Term Lets:

  • 70% LTV 5-year fixed interest rate of 6.73% with 5% fee
  • 70% LTV 5-year fixed interest rate of 7.22% with 3% fee
  • 75% LTV 5-year fixed interest rate of 7.53% with 2% fee
  • 75% LTV Lifetime tracker interest rate of 7.75% (BBR+2.75%) with 2% fee

Refurbishment Product Range:

Light Refurbishment:

  • Individual and Limited Company/LLP 70% LTV 5-year fixed interest rate of 6.83% with 5% fee
  • Small HMO/MUFB 70% LTV 5-year fixed interest rate of 6.88% with 5% fee
  • Individual and Limited Company/LLP 75% LTV 5-year fixed interest rate of 7.63% with 2% fee
  • Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.68% with 2% fee
  • 75% LTV Lifetime tracker interest rate of 7.65% (BBR+2.65%) with 2% fee (Individual and Limited Company/LLP)
  • Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.75% (BBR+2.75%) with 2% fee

 EPC Improvement:

  • Individual and Limited Company/LLP 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
  • Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.63% with 2% fee
  • Individual and Limited Company/LLP 75% LTV Lifetime tracker interest rate of 7.60% (BBR+2.60%) with 2% fee
  • Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.70% (BBR+2.70%) with 2% fee

Cosmetic Improvement:

  • Individual and Limited Company/LLP  75% LTV 5-year fixed interest rate of 7.53% with 2% fee
  • Small HMO/MUFB 75% LTV 5-year fixed interest rate of 7.58% with 2% fee
  • Individual and Limited Company/LLP 75% LTV Lifetime tracker interest rate of 7.55% (BBR+2.55%) with 2% fee
  • Small HMO/MUFB 75% LTV Lifetime tracker interest rate of 7.65%(BBR+2.65%) with 2% fee

Ross Turrell, commercial director at CHL Mortgages, said: “In this challenging economic climate, five-year fixed rates provide the stability of payments for landlords and enable lenders to take a lower rental cover calculation by using the pay rate.”