Paradigm Mortgage Services, the mortgage services proposition, has today added returning buy-to-let lender, CHL Mortgages, to its panel.
From today, Paradigm member firms will be able to access CHL’s new range of buy-to-let mortgages for both individuals and limited company borrowers, who wish to finance properties including houses, flats, shared accommodation, new-builds, HMOs and multi-unit freehold blocks.
CHL Mortgages returned to lending in May this year and offers buy-to-let mortgage finance to landlords from first-timers to experienced portfolio players.
The lender will lend up to £1m per property with larger loans available upon referral, up to 75% LTV, with portfolio lending up to £2.5m rising to £5m after 12 months with no maximum portfolio limits in the background.
Rental calculations begin from 125% for basic rate taxpayers and limited companies, with higher rate taxpayers at 145%. Its five-year fixed-rate products are offered with a rental calculation at payrate.
John Coffield Head of Mortgages at Paradigm Mortgage Services, commented: “Given CHL’s history and reputation as one of the longest-standing lenders in the UK buy-to-let market, it has been somewhat odd not to have them actively lending in recent years. However, we are very pleased to welcome them back with a new range of products and a hugely experienced team with whom I’m sure many Paradigm member firms will already be familiar with. There has perhaps never been such a competitive buy-to-let sector as we have now, and CHL’s return certainly adds a considerable amount to this. We’re looking forward to working with the CHL team again and re-introducing them to our firms.”
Ross Turrell, Commercial Director at CHL Mortgages, said: “Joining Paradigm is yet another important milestone in our return to the intermediary buy-to-let market and we are focused on providing a strong proposition with competitive pricing and broad criteria for their adviser members. Our relationship goes back many years and so it’s a pleasure to join forces again and we look forward to working with the team and reconnecting with their advisers.”