CHL Mortgages has completed a £5 million refinance across 10 buy-to-let properties in south west London, restructuring the deal mid-process to ensure a bridging loan was repaid on time.
The specialist lender, part of the Chetwood Bank group, delivered the funding for an experienced landlord with assets in Lambeth, after being approached by a broker seeking to refinance a portfolio against an expiring bridging facility.
The case involved 10 properties and required a swift turnaround, with the existing short-term loan nearing the end of its term. Following an initial review, CHL identified the transaction as fitting within its appetite for more complex portfolio cases.
A single underwriter was assigned to manage the deal from outset through to completion, coordinating closely with the lender’s sales team and the broker to align valuations and issue offers simultaneously.
During the process, the structure of the deal changed following accounting advice, with applications moving from five-year fixed rates to two-year products. This increased the borrower’s exposure beyond original limits and required the lender to adjust its approach.
CHL proceeded to complete nine of the 10 loans initially, reducing the balance of the bridging facility, before approving the final case and completing the full refinance.
The lender also used search indemnity insurance to support the speed of execution, allowing the borrower to meet their repayment deadline.
Paul Agnew, broker at London Property Finance, said: “I was really impressed with CHL Mortgages’ ability to take a complex, time-sensitive portfolio refinance and keep it moving with clarity and control. Shannon supported me from start to finish and kept me updated throughout.
“Even when the case evolved and exposure limits shifted, the team didn’t miss a beat, finding practical solutions, reissuing offers and ensuring the bridging loan was repaid on time. Their expertise in portfolio and specialist lending genuinely shone through and gave me and my client real confidence at every stage.”
Roger Morris, group distribution director at Chetwood Bank for CHL Mortgages and ModaMortgages, said: “This case is a fantastic example of how CHL Mortgages can provide a specialist solution, no matter how large or complex a case.
“By assigning a dedicated underwriter and working closely with the broker, we were able to structure the lending creatively, manage exposure carefully and deliver the refinance within a tight timeframe.
“I’m really proud of the team for finding a way to make the deal happen – it’s a great example of our commitment to doing all we can to help brokers place their complex cases in a speedy manner.”
