Finova adds CHL Mortgages to DA club lending panel

  • 08/06/2022
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Finova adds CHL Mortgages to DA club lending panel
Finova Payment and Mortgage Services, previously MCI Mortgage Club, has linked up with lender CHL Mortgages to offer the mortgage club's directly authorised membership access to its specialist buy-to-let product range.

CHL Mortgages, an intermediary-only specialist buy-to-let lender, relaunched in May 2021 with a product range for large homes of multiple occupancy (HMOs)  and multi-unit freehold blocks (MUFBs) targeting first-time landlords, portfolio landlords and limited companies.

Finova Payment and Mortgage Services is a mortgage club to over 450 brokers and 70 lenders and the inclusion of CHL’s proposition means brokers also have the option to advise on, or refer to a specialist, equity release and secured loan cases.

After relaunching its proposition with a select panel of distributors in May 2021, CHL implemented a phased approach to enlarging its distribution channels to include many of the industry’s leading networks, mortgage clubs and intermediary brands.

Andy Valvona, national account manager, CHL Mortgages said: “It’s now been a full year since we relaunched back into the specialist buy-to-let marketplace and it has been a hugely positive 12 months from both a volume and servicing perspective. It’s also been hugely rewarding to revisit old acquaintances of the brand and to build a host of new relationships.

 “Finova is also a business which has recently reinvented itself after a highly successful rebrand and is really making its mark within the intermediary marketplace. Its focus on empowering members to leverage the latest technology to super-charge their business efficiency, attract new clients and enhance client engagement mirrors our own tech approach and we look forward to forging a successful long-term relationship with Mel and the team.”

Melanie Spencer, head of Finova, said: “We are delighted to be partnering with CHL Mortgages and offering its buy-to-let specialist solutions to our broker network. With buy-to-let mortgage activity surging in 2022, it is crucial that our panel offers landlords competitive and flexible solutions to accommodate all borrowers.

 “This partnership is a welcome addition to our panel of existing lender partners and allows brokers to support landlords with complex borrowing requirements, at a time where the rising cost of living may be stretching household finances.”

 “We look forward to offering our brokers CHL Mortgages’ extensive product range and have no doubt that this will help them support a wider pool of landlords in pursuit of lending opportunities.”

In November last year, the club was rebranded in line with that of its parent firm Finova, which was previously known as DPR Group.



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