Irish Permanent International has elected CHL as its partner to manage the loan book, which includes high-net worth borrowers with low LTVs and low default rates.

CHL has increased its mortgages under management by nearly 5% during 2010. With the new addition, assets under management by CHL stand at £6.5bn.

Bob Young, managing director of CHL Mortgages, said: “Even though we are not currently originating new loans this shows that when it makes commercial sense for us to do so, we are still very much active in the market. The addition of nearly £300m is a significant milestone proving that CHL has the know-how and vital experience in the buy-to-let sector in order to be able to manage this challenge successfully.”

He added: “Given the quality of people we have within the business we are 100% confident that, even with the portfolio’s complexity, we have staff with the skills and experience to ensure this is managed successfully and that that all parties benefit from this new arrangement.”

CHL will manage all aspects of the loan book including general administration, delinquent accounts and recoveries.

Sponsored

£2.5m paid to help broker clients benefit from greener homes

Sponsored by Halifax Intermediaries