CHL Mortgages adds lifetime trackers for landlords

The deals from the specialist buy-to-let lender are available to a maximum 70 per cent loan to value (LTV), with a two-year early repayment charge (ERC) of three per cent in year one and two per cent in year two.

A two per cent product fee applies across the range.

The tracker rate for individuals and limited companies is set at 5.20 per cent, which is the bank base rate (BBR) plus 2.95 per cent.

For small houses in multiple occupation (HMO), multi-unit freehold blocks (MUFB) and short term lets the rate is 5.30 per cent, equivalent to the BBR plus 3.05 per cent.

Large HMOs and MUFBs have a rate of 5.35 per cent, which is BBR plus 3.10 per cent.

There are also refurbishment lifetime trackers to 70 per cent LTV with rates starting at 5.34 per cent for light refurbishment or EPC improvement and 5.31 per cent for cosmetic improvement.

Ross Turrell (pictured), commercial director at CHL Mortgages, said: “Our new lifetime trackers with a two-year ERC are a great option for landlords wanting to purchase or remortgage.

“They offer a potentially lower monthly payment versus fixed rate alternatives in the current market, along with the flexibility to move into fixed rate products after two years.”