Intermediary-only specialist buy-to-let (BTL) lender CHL Mortgages has formed a distribution partnership with Legal & General Mortgage Club.
This forms part of the lender’s phased return to the market, and aims to significantly extend CHL Mortgages’ distribution channel.
Legal & General Mortgage Club has facilitated over £668bn of mortgages, and its partnership with CHL Mortgages means the club now offers intermediaries access to mortgages from 102 lenders.
This partnership follows the announcement of Andy Valvona as national accounts manager, and the addition of three business development managers – Andrea Gizzy covering London, Midlands and the North, Daniel Watson, South and South West, and Paul Flude in the South East and East Anglia.
Ross Turrell, commercial director, CHL Mortgages, said: “Legal & General Mortgage Club is an absolute giant in terms of the breadth of its distribution and reputation across the intermediary market.
“It is a partner that always featured heavily in our plans but due to its sheer size and scale we had to carefully assess how and when we opened the doors to its members.
“This partnership shows the huge strides forward we have already made as a lender and there are many more exciting plans and announcements in the pipeline.”
Danny Belton, head of lender relationships at Legal & General Mortgage Club, added: “It is pleasing to see an experienced lender like CHL Mortgages making its return to the buy-to-let arena.
“We expect the partnership to open the door to a range of valuable mortgages suitable for limited companies, portfolio landlords and trading companies.
“Its team of experienced underwriters also leverage a manual underwriting approach, which will undoubtedly help our adviser partners to support borrowers with more bespoke borrowing needs.
“We look forward to working closely together as the partnership continues.”