CHL Mortgages launches bridging proposition

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 be initially 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.

The new range will feature standard and light refurbishment products designed for scenarios such as chain break finance and auction purchases, non-structural projects including internal upgrades, and heavy refurbishment larger-scale projects involving structural works.

Roger Morris (pictured), group distribution director at Chetwood Bank, said: “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.”