CHL updates criteria and joins Knowledge Bank

CHL Mortgages has made changes to its BTL range and has added its criteria to the Knowledge Bank platform.

The intermediary-only specialist lender is now accepting inter-company loan deposits from connected parties, and has reduced the high/additional rate taxpayer ICR from 145% to 140%.

CHL’s development exposure limits in any block have also been increased to:

  • a maximum of six units per block for those up to six units
  • a maximum of 10 units per block for those with seven to 20 units
  • the highest of either 10 units or 20% per block for those of more than 20 units

The addition of its new criteria on the Knowledge Bank platform aims to expand CHL’s reach as part of its phased return to the specialist BTL market.

Ross Turrell, commercial director at CHL, said: “The response to our return to the specialist BTL market has been overwhelmingly positive and, following feedback from our initial distribution partners, we are making these improvements to lending policy in order to attract more BTL customers.

“In particular, we know the change to accept inter-company loan deposits will make a lot more limited company cases viable, and these changes demonstrate our willingness to adapt according to customer and broker needs.

“Our launch with Knowledge Bank represents a logical step in our plan to engage with the intermediary community in a sensible, structured and comprehensive manner. 

“Knowledge Bank has firmly cemented its status as the place for intermediaries to source all relevant, criteria-related information, and this will prove to be a valuable outlet in our overall distribution strategy.”

Matthew Corker, operations director at Knowledge Bank, added: “It’s been great to see CHL return to the specialist BTL arena in recent months and expand its distribution to reach a wider number of brokers. 

“While working closely with the CHL team over these last few weeks, it’s clear to see the level of knowledge and experience it has, covering some of the more specialist market niches such as HMO/MUFB and products for portfolio landlords. 

“I have no doubt it will be well searched on our platform and a valuable addition to our users.”

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