Chetwood Bank has increased the maximum buy-to-let (BTL) exposure limit to £10 million for both its ModaMortgages and CHL Mortgages for Intermediaries brands.
The UK-based digital challenger bank is doubling both lenders’ previous lending limits of £5 million to help agents with clients looking to grow their portfolios or buy higher value properties.
It also removes the portfolio limit of 20 properties on ModaMortgages, meaning borrowers can now own unlimited properties up to £10m across both brands, as well as other lenders.
Chetwood Bank will continue to subject all cases to underwriting review and assessment, taking into account the circumstances of applicants and the impact of future interest rate increases.
Darrell Walker, Chetwood Bank group sales director, said: “Increasing our maximum exposure limit to £10 million across both our mortgage providers marks an important step in our continued support for landlords and property investors.”
“As the market evolves, we remain focused on delivering flexible, competitive products, including solutions that enable portfolio growth at scale and support higher value investments.”