CHL expands BTL range

Available immediately, the new range includes three discount trackers and two trackers.

The products include the following:

• 5.65 per cent Discount tracker. Bank Base Rate (BBR) -0.10 per cent until 31st December 2009, then BBR plus 1.25 per cent. Available up to a maximum LTV of 85 per cent with a completion fee of 2.75 per cent of the advance.
• 6.64 per cent Tracker. BBR plus 0.89 per cent for the term of the mortgage. Available up to a maximum LTV of 85 per cent with a completion fee of 1.5 per cent of the advance.
• 6.64 per cent Discount tracker. BBR plus 0.89 per cent until 31st December 2009, then BBR plus 1.25 per cent. Available up to a maximum LTV of 85 per cent with a completion fee of 1.25 per cent of the advance. This product comes with a free valuation for properties up to £500,000 in value.
• 6.94 per cent Discount tracker. BBR plus 1.19 per cent until 31st December 2009, then BBR plus 1.65 per cent. Available up to a maximum LTV of 90 per cent with a completion fee of 1.25 per cent.
• 7.39 per cent Tracker. BBR plus 1.64 per cent for the term of the mortgage. Available up to a maximum LTV of 85 per cent with a completion fee of 1 per cent.

CHL also provides a range of fixed-rate buy-to-let mortgages, with criteria including: lending on housing associations and council leases; lending to owners of multi-let properties; lending to any type of limited companies; and lending on freehold properties let as flats.

Trevor Child, head of sales and marketing at CHL Mortgages, said: “These new variable rate buy-to-let products add to our overall range and shows CHL Mortgages’ continued commitment to the buy-to-let sector and the intermediary distribution channel.

“With all our buy-to-let products intermediaries also benefit from our procuration fees which are set at 0.5 per cent across the board with no cap. We continue to offer our ‘Clearing Hotline’ to those intermediaries who are looking for help and advice with both their buy-to-let and self-certification cases. Advisers can call free on 0800 085 6727 to talk to a member of the CHL product team.”