CHL Mortgages has officially launched its bridging proposition, offering regulated and unregulated short-term finance for property transactions and refurbishment projects.
The products are available to directly authorised brokers and their clients through selected mortgage clubs and packager panels.
It plans to expand the proposition across wider distribution channels in the future.
The launch broadens CHL Mortgages’ specialist lending offering and enables it to support borrowers requiring short-term funding across a range of property scenarios.
THREE PRODUCT OPTIONS
The range comprises standard, light refurbishment and heavy refurbishment products.
Standard bridging supports transactions including auction purchases and chain-break finance, while the light refurbishment range covers non-structural works such as internal upgrades.
Heavy refurbishment products cater for larger projects involving structural alterations.
CHL Mortgages is part of Chetwood Bank, which says its banking licence provides secure funding, operational resilience and a long-term commitment to the specialist lending market.
“Entering into the bridging market is a key milestone.”
Roger Morris (main picture, inset), group distribution director at Chetwood Bank, says: “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.
“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.”
