In This Article
Who are CHL Mortgages?
CHL Mortgages is a buy to let mortgage lender based in the UK with over 30 years of experience.
CHL Mortgages was previously known as Capital Home Loans and was a major mortgage lender before 2008.
Currently, they offer mortgages to landlords and limited companies with a range of chl mortgage products from standard buy to let mortgages to house of multiple occupancy (HMO) mortgages and multi-Unit freehold block mortgages.
CHL Mortgages’ goal is to make it easier for mortgage advisors to serve you. They have a transparent and straightforward approach to business, with no unnecessary obstacles.
CHL work exclusively with mortgage advisors in England and Wales, therefore, you will be unable to get a mortgage directly with them.
Complete our contact form should you wish a mortgage advisor to review your situation and consider an application with CHL mortgages.
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What mortgages does Capital Home Loans specialise in?
CHL offers financing for both standard buy to let properties, house of multiple occupancy (HMO) and multi-unit properties to both individuals and limited companies. They can help from first-time landlords through to experienced portfolio landlords.
CHL mortgages rates
When you’re shopping for a mortgage in the UK, you have many options.
There are over 100 mortgage lenders in the UK, offering more than 15,000 interest rates and deals.
To get the best deal, compare rates across the whole of the market and find the mortgage that fits your needs you should speak to a mortgage advisor.
CHL, offer a range of mortgage products, varying by the loan to value you require. This means that an advisor can find a mortgage that meets your specific needs and goals. For example, if you are looking to maximise the buy to let loan amount, but are restricted by the rental, they can find a mortgage product that is right for you.
Alternatively, if you are looking for a buy to let mortgage on a quirky property, such as an ex-local authority flat or above commercial, an advisor can find a product that meets your needs.
Is your fixed rate is expiring with CHL? (Mortgage product transfer)
CHL mortgages may not be able to offer you a product transfer. If you’re interested in finding a new, lower rate on your mortgage with CHL, speak to a mortgage advisor today. They can review the whole market to make sure you get the best deal possible. The mortgage advisor can handle the new mortgage for you. So you can save yourself some time and hassle.
How long does a CHL mortgages application take?
It typically takes four weeks from application to offer when applying with CHL Mortgages.
However, the time frame might be longer if the deal is less straightforward, due to things like bad credit, a non-standard property type, or perhaps the property requires refurbishment.
It usually takes two to three weeks for CHL to provide a mortgage offer after a property valuation is instructed.
The valuation report usually takes around five days to come back, but if no issues were flagged up, CHL will usually make you a formal offer within a week.
Declined a CHL mortgage?
It may be difficult to obtain a buy to let mortgage offer from CHL if you have experienced major credit issues in the recent past. This is because, like most by to let lenders, CHL primarily deals with individuals who have a good credit history.
If your mortgage application is declined by CHL by another mortgage broker, seek another opinion from an independent mortgage advisor to see if you will qualify for a mortgage with another lender.
The type of property you’re buying, your credit history, income and the affordability of your mortgage payments all play a role in mortgage approval.
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Conclusion
Capital Home Loans was a large buy to let lender pre-2008. They have re-launched back to market as CHL Mortgages and offer a range of buy to let mortgages to suit borrowers in a variety of situations.
If you’re looking for a buy to let mortgage you should be considering the whole of the market as CHL Mortgages may not be the right mortgage for you. You are unable to apply for a mortgage directly with CHL, therefore it’s a good idea to speak with a advisor to make sure you’re getting the best deal.
A mortgage broker can help you compare rates and find the right mortgage for your needs.
Please complete our contact form should you wish to speak with an expert mortgage advisor.
They are experienced, which can boost your chances of being approved.
