CHL Mortgages alters lending criteria and joins Knowledge Bank’s platform

  • 24/08/2021
  • 0
CHL Mortgages alters lending criteria and joins Knowledge Bank’s platform
Intermediary-only specialist buy to let (BTL) lender CHL Mortgages has made changes to its lending criteria and become part of the Knowledge Bank platform.


The criteria changes include accepting intercompany loans from connected parties and decreasing its high or additional rate taxpayer interest cover ratio (ICR) from 145 per cent to 140 per cent.

The lender has also heightened its development exposure limits. Borrowers can secure block of up to six units with a maximum of six units per block, blocks of seven to 20 units can have a maximum of 10 units per block and blocks of more than 20 units can have up to 10 units or 20 per cent per block, whichever is higher.

It also confirmed that it joined Knowledge Bank’s platform, which is a criteria search system that has information on 200 lenders.

CHL Mortgages’ commercial director Ross Turrell (pictured) said its return to market had been “overwhelmingly positive”, and it was making improvements to attract more BTL customers.

He added specifically that its changes to accept intercompany deposit loans would make more limited companies viable and showed its willingness to adapt to customer and broker needs.

He said the lender’s partnership with Knowledge Bank was a “logical step” in engaging 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,” he added.

Matthew Corker, Knowledge Bank’s operations director, added: “Whilst working closely with the CHL team over these last few weeks, it’s clear to see the level of knowledge and experience they have, covering some of the more specialist market niches such as homes in multiple occupancy (HMO), multi-unit freehold block (MUFB) and products for portfolio landlords. I have no doubt they will be well searched on our platform and a valuable addition to our users.”

There are 0 Comment(s)

You may also be interested in