CHL Mortgages added to finova lending panel
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has been added to the lending panel of finova Payment and Mortgage Services.
This partnership will provide finova’s membership of directly authorised (DA) brokers with access to CHL’s extensive specialist buy-to-let product range. The lender has recently launched a short-term let proposition following the introduction of a new product range for large HMOs and multi-unit freehold blocks (MUFBs).
The full CHL Mortgages product range caters for first-time landlords, portfolio landlords and limited companies covering a variety of BTL investments including short-term lets, HMOs, MUFBs.
finova Payment and Mortgage Services is an established and well-respected mortgage club and a trusted partner to over 450 brokers and 70 lenders. It offers a single payment and processing package, which enables brokers to earn more on procurement fees. Further enhancements to the proposition means that brokers now 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 has since 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 commented: “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 Payment and Mortgage Services, added: “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.”