Paradigm adds CHL Mortgages to panel

Paradigm Mortgage Services has announced the addition of returning buy-to-let (BTL) lender, CHL Mortgages, to its panel.

The move means that Paradigm member firms will have access to CHL’s range of BTL mortgages for both individuals and limited company borrowers across houses, flats, shared accommodation, new-builds, HMOs and multi-unit freehold blocks.

CHL returned to lending in May this year and offers BTL mortgage finance to landlords from first-timers to experienced portfolio players.

The BTL lender is expected to lend up to £1m per property with larger loans available upon referral, up to 75% LTV, and with portfolio lending up to £2.5m which rises to £5m after 12 months.

“Joining Paradigm is yet another important milestone in our return to the intermediary BTL market and we are focused on providing a strong proposition with competitive pricing and broad criteria for their adviser members,” commented CHL commercial director, Ross Turrell.

“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.”

Paradigm head of mortgages, John Coffield, added: “Given CHL’s history and reputation as one of the longest-standing lenders in the UK BTL 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 BTL 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 reintroducing them to our firms.”

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