CHL mortgages introduce new mortgage products
05/11/2007
CHL Mortgages have introduced two new home loan products, one
full-status and the other self-cert.
This new self-cert loan is fixed at 6.15% through to April 30
2010, at this stage it will relapse to base rate plus 1.25%.
The maximum LTV lies at 90% in conjunction with a maximum loan
of £451,000.
The LTV for a first-time
buyer equals to 85% of £300,000.
A completion fee of 1.5% of the progress and early repayment
fee is 6% of the abiding balance up to the end of a fixed rate
period.
This loan is a discount tracker priced at a staggering 6.64%
until 2010.
Borrowers have a chance to make repayments up to 20% every year
without the ERC.
Head of sales at CHL Mortgages, Trevor Child spoke further: “The
new home loan products deliver great value to both the self-employed
with our self-cert product and those opting for our full-status
offering. CHL does not provide self-cert products to the employed
and therefore those who are able to fully prove their income
will now be able to access CHL through the full-status product.”
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