CHL Mortgages is returning to lending as an intermediary-only, specialist buy-to-let lender.
According to CHL Mortgages, it is looking to go live “imminently”.
The lender withdrew from new lending in 2008 and focused on managing its own and third-party loan books.
It has now appointed Matt Kimber, who was most recently chief operating officer, as managing director for its lending business.
Kimber said: “The growth of the specialist buy-to-let sector in recent years gives us tremendous confidence regarding the market opportunities available for lenders, brokers and landlords.”
Ross Turrell, who was previously at KSEYE Bridging, has been appointed commercial director to lead the sales and distribution channels.
Turrell said: “The company is focused on building a strong proposition with competitive pricing, broad criteria and modern digital infrastructure to create a positive intermediary experience.
“The business has ambitious growth plans and I’m very excited to assist in the execution of the future lending strategy. We are in the process of building the team to help deliver against these plans and I am delighted to have appointed high calibre individuals with more to follow.
“2021 will be an interesting year for the buy-to-let sector and we look forward to working closely with our intermediary and distribution partners to establish the CHL brand to meet the needs of landlords and property investors.”
CHL Mortgages previously had plans to return to the market in 2016, although this did not come to fruition.
It currently services around 30,000 mortgage loans across a number of asset classes, including buy-to-let and residential owner-occupied loans, with a total value of around £4bn.
chloe.cheung@ft.com
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