CHL Mortgages has re-launched a range of variable rate products to include lifetime and three-year BBR trackers across its core and refurbishment product ranges.
Both products are available to a maximum 75% LTV, 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 ERC of 3% and 2%.
Core range available to 75% LTV:
Individuals & Limited Companies/LLP:
- 3-year tracker at 6.70% (BBR plus 2.20%)
- Lifetime tracker at 6.95% (BBR plus 2.45%)
Small HMOs & MUFBs:
- 3-year tracker at 6.85% (BBR plus 2.35%)
- Lifetime tracker at 7.10% (BBR plus 2.60%)
Large HMOs & MUFBs:
- 3-year tracker at 6.95% (BBR plus 2.45%)
- Lifetime tracker at 7.20% (BBR plus 2.70%)
Short Term Lets
- 3-year tracker at 7.00% (BBR plus 2.50%)
- Lifetime tracker at 7.25% (BBR plus 2.75%)
Refurbishment range available to 75% LTV:
Light Refurbishment
- Individual and Limited Company/LLP: Lifetime tracker at 7.15% (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% (BBR plus 2.65%)
EPC Improvement
- Individual and Limited Company/LLP: Lifetime tracker at 7.10% (BBR plus 2.60%)
- Small HMO/MUFB: Lifetime tracker at 7.20% (BBR plus 2.70%)
The EPC Improvement product is designed for landlords looking to improve the energy efficiency of their BTL property to meet the UK Government’s proposal for existing rented properties to have a minimum EPC rating of C or higher from 2025.
Ross Turrell (pictured), commercial director at CHL Mortgages, said: “If you have landlord clients who are looking to purchase or remortgage, our products might be the solution. Through our blended ICR approach, customers in different tax bandings could potentially raise additional capital.”