CHL Mortgages has partnered with Twenty7Tec to offer intermediaries wider access to its product range following its return to the specialist buy-to-let market.
CHL’s newly launched BTL product range which includes two five-year fixed rate products which are available at a rate of 3.25% up to 75% LTV and 3.10% up to 65% LTV. Rental income for these products must be at least 125% of the monthly mortgage payment calculated at payrate and they are applicable for purchase or re-mortgage purposes. Each BTL product has a minimum loan size of £25,001 and a maximum loan size of £1m.
SOURCE – powered by CloudTwenty7 – is a sophisticated search engine for mortgage, BTL, equity release, secured and bridging loan products.
Ross Turrell, Commercial Director, CHL Mortgages commented:
“We have assembled our new proposition with a strong emphasis on cutting-edge technology and working with market-leading innovators such as Twenty7Tec is a natural step in gaining wider visibility for our offering now, and in the future.
“Intermediaries need to be able to generate the right solutions for their clients and SOURCE analyses product, criteria and lender affordability in order to determine the most appropriate product recommendation. Sourcing technology continues to evolve, at pace, to meet shifting client demands and we believe Twenty7Tec is at the forefront of this evolution.”
Nathan Reilly, Head of Lender Relationships at Twenty7Tec, noted:
“We’re delighted to have CHL Mortgages available on our CloudTwenty7 platform following their recent return to the BTL lending market as they look to support brokers and customers with their exciting lending proposition. Our data shows the market remains busy, which is why new partnerships and technology remain vital in driving efficiency for advisers.
About CHL Mortgages
CHL Mortgages has over 30 years’ experience in the UK lending market both as a buy-to-let lender and as a servicer of its own and third-party assets.
CHL Mortgages currently service c.30,000 mortgage loans across a number of asset classes including buy-to-let and residential owner-occupied loans with a total value of c.£4bn.