Trevor Child, senior marketing manager at CHL says: " CHL is delighted to offer the TMO distribution channel this 90% LTV self cert homeloan product. At BBR+0.74% it combines our best 90% LTV self certification homeloan tracker rate with a shorter tie in on the early repayment charge. After the tie-in period, borrowers have access to all CHL new business self cert homeloan products".
Richard Stokes, TMO’s Head of Product Development, states: “We had an exceptional 2004 with Capital Home Loans and are excited at its commitment to grow its market share for 2005. These products form part of our 'it’s cheaper through TMO’ drive and cover their core prime self cert and buy-to-let markets. The low rate on the buy-to-let is particularly helpful for achieving rental yield.”
Product details:
Prime Self Cert for self employed
- 5.49% includes 0.51% discount to 1/9/2006 (BBR + 1.25%)
- Funded by Capital Home Loans
- £199 application fee up to property value £600,000
- Flexible payment options including 20% overpay per annum
- Free higher lending charge
- Early repayment charge: 5% in discount period
- Second time buyers and remortgagors:
90% LTV to £315k
85% LTV to £425k
80% LTV to £500k
- First time buyers:
85% LTV to £250k
- Procuration fee 0.5%
Buy-to-let
- 5.59% includes 0.4% discount to 31/5/2007 (BBR + 1.24%) – 85% LTV to £850k. Not available to first time buyers.
- Funded by Capital Home Loans
- Rental assessment based on a yield of 125% of the interest payable calculated at payrate.
- Free higher lending charge
- Early repayment charge: 5% in discount period
Procuration fee 0.5%
