"Raising our maximum exposure limit to £10 million for both our mortgage lenders marks an important step in our continued support for landlords and property investors"
- Darrell Walker - Chetwood Bank
Chetwood Bank has announced it is raising the maximum buy-to-let exposure limit to £10 million for both its ModaMortgages and CHL Mortgages for Intermediaries buy-to-let brands.
The UK-based digital challenger bank is doubling both lenders' previous lending limits of £5 million to help support brokers with clients looking to grow their portfolios or purchase higher-value properties.
Portfolio restrictions lifted
The lender is also removing the 20-property portfolio limit on ModaMortgages. This means borrowers can now own unlimited properties up to £10 million with either brand, as well as with other lenders.
Chetwood Bank will continue to subject all cases to underwriting review and assessment, with applicants' circumstances and the impact of future interest rate increases taken into consideration.
"Raising our maximum exposure limit to £10 million for both our mortgage lenders marks an important step in our continued support for landlords and property investors," said Darrell Walker, group sales director at Chetwood Bank (pictured). "As the market evolves, we remain focused on delivering flexible, competitive products, including solutions that enable larger-scale portfolio growth and support higher value investments. Brokers with investors with large portfolios just in excess of £10 million are invited to pick up the phone and with speak with one of our BDMs to see if we can support their request."
