CHL Mortgages has launched new lifetime tracker products across its complete core and refurbishment product ranges.
The lifetime tracker products are available to a maximum 70% LTV, with a two-year Early Repayment Charge (ERC) of 3% in year one and 2% in year two. A 2% product fee applies across the range.
Core range lifetime trackers to 70% LTV:
Individuals & Limited Companies/LLP:
- lifetime tracker at 5.20% (Bank Base Rate plus 2.95%)
Small HMOs & MUFBs:
- lifetime tracker at 5.30% (Bank Base Rate plus 3.05%)
Large HMOs & MUFBs:
- lifetime tracker at 5.35% (Bank Base Rate plus 3.10%)
Short Term Lets
- lifetime tracker at 5.30% (Bank Base Rate plus 3.05%)
Refurbishment lifetime trackers to 70% LTV:
Light Refurbishment
- Individual and Limited Company/LLP: lifetime tracker at 5.34% (Bank Base Rate plus 3.09%)
- Small HMO/MUFB: lifetime tracker at 5.39% (Bank Base Rate plus 3.14%)
Cosmetic Improvement
- Individual and Limited Company/LLP: LTV lifetime tracker at 5.31% (Bank Base Rate plus 3.06%)
- Small HMO/MUFB: 70% LTV lifetime tracker at 5.35% (Bank Base Rate plus 3.10%)
EPC Improvement
- Individual and Limited Company/LLP: lifetime tracker at 5.34% (Bank Base Rate plus 3.09%)
- Small HMO/MUFB: lifetime tracker at 5.39% (Bank Base Rate plus 3.14%)
Ross Turrell, commercial director at CHL Mortgages, said: “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.”
