CHL grows BTL and self-cert

By Ariane Buteux

09 Oct 2007

The firm has added a further three new fixed-rate products to its buy-to-let range, alongside two new self-cert discount trackers.

The two 5.49 per cent buy-to-let fixes up to 85 per cent and 90 per cent until 31st March 2010 are offered with free legal fees and free valuation for properties up to £500,000 in value. Both products are for remortgages only and the free legal fees are provided if Goldsmith Williams Solicitors are appointed.

The three buy-to-let products are:

5.49 per cent fixed at 85 per cent LTV up until 31 March 2010. After maturity the rate reverts to 1.75 per cent above Bank Base Rate (BBR) giving a current rate of 7.5 per cent. The completion fee is 1% of the advance (minimum of £300).
The second product offers the same rate, 5.49 per cent, at 90 per cent LTV. Again at maturity the rate reverts to 1.75 per cent above BBR giving a current rate of 7.5 per cent. The completion fee for this product 1.25 per cent of the advance (minimum of £300).
Finally, a 5.99 per cent fixed rate product available up to 90 per cent LTV with a maturity date of 31st March 2012. The rate then reverts to 1.75 per cent above BBR giving a current rate of 7.5 per cent. The completion fee is 2 per cent of the advance (minimum of £300).

CHL has also unveiled two new self-certification discount trackers:

A BBR plus 1.14 per cent product giving a current rate of 6.89 per cent. This product matures on 31 December 2009 where the rate will revert to 1.25 per cent above BBR giving a current rate of 7 per cent. The product is available up to 85 per cent LTV with a completion fee of £499.
The second product is also BBR plus 1.14 per cent until 31 December 2009. Again on maturity it reverts to 1.25 per cent above BBR and is available between 85.1 per cent to 90 per cent LTV. It is not available to first-time buyers and has a completion fee of 0.5 per cent of the advance.

Trevor Child, head of sales and marketing at CHL Mortgages, commented: “These new products from CHL continue to offer real value for our intermediary partners in both the buy-to-let and self-certification sectors.

"In particular, our competitively priced 5.49 per cent fixed rate buy-to-let mortgages are proof that CHL continues to provide highly attractive products for their clients. These products are made even more attractive with the addition of free legal fees and free valuations for properties up to £500,000 in value.

“CHL is committed to our customers and strives to ensure our service levels are the highest they can possibly be and, by using CHL, we make life easy for our broker partners. Our current product range continues our focus on transparency of pricing, charges and fees and we are always looking for ongoing feedback to ensure we continue to meet the standards required of us by intermediaries.”