The proposition allows the lender to provide both regulated and non-regulated loans for borrowers undertaking a range of property transactions and refurbishment projects.
CHL Mortgages said the proposition is supported by the funding capabilities of parent company Chetwood Bank.
The range includes standard and light refurbishment products for cases such as chain-break finance, auction purchases and internal property upgrades, as well as heavy refurbishment products for larger-scale projects involving structural works.
Initially, products are available to directly authorised brokers and their clients through selected mortgage clubs and packager panels, before being rolled out to wider distribution channels.
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.”
