Specialist lender CHL Mortgages has announced the official launch of its bridging proposition.
The launch will enable the lender to provide regulated and non-regulated loans for borrowers looking to undertake a range of property transactions and refurbishment projects. Products will initially be available to directly authorised brokers and their clients via selected mortgage clubs and packager panels, before being rolled out to wider distribution channels in the future.
What the range covers
The new range features:
- standard and light refurbishment products designed for scenarios such as chain break finance and auction purchases
- non-structural projects, including internal upgrades
- heavy refurbishment for larger-scale projects involving structural works
CHL Mortgages operates under parent company Chetwood Bank, a licensed UK bank.
"Entering into the bridging market is a key milestone in our development and represents another important step in the evolution of our specialist lending proposition," said Roger Morris, group distribution director at Chetwood Bank (pictured).
"It enables us to serve a broader range of borrowers by giving us the ability to provide both regulated and non-regulated solutions for a host of property scenarios and refurbishment projects where short-term finance is required."
