CHL Mortgages has updated its product and criteria, the details are below. These products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
New Lifetime tracker Buy To Let products from CHL Mortgages
I am pleased to announce that CHL Mortgages will be introducing a range of lifetime tracker products Wednesday 19th October.
All products track the Bank of England Base Rate, plus a % margin, dependant upon product, for the term of the mortgage. A 2% product fee applies to all products with each available to a maximum 70% LTV.
ICRs are calculated at the initial pay rate + 2%, or 5.5%, whichever is higher. ERC’s are applicable for the first 2 years, applied as 3% in year 1 and 2% in year 2