Loan terms & limits
- 80%
Fees can be added to all products.
Related words: Loan to value, loan size, loan amount, council
Property Criteria
A House in Multiple Occupation (HMO) is a freehold or leasehold property where 3 or more tenants reside forming more than 1 household. Tenants share a lavatory, bathroom or kitchen facilities with other tenants and a HMO licence is required. The Solicitor will be required to ensure all relevant Planning/Change of Use requirements for its proposed use are in place on Completion. Shared Houses considered with rental assessment on a room-by-room basis.
Small HMO (Available in CHL 1 & CHL 2 ranges)
At least 3 tenants reside forming more than 1 household. Must need minimal adaption to sell as a family home.
Large HMO (Available in CHL 2 range only)
At least 5 tenants reside forming more than 1 household or any HMO that needs considerable alteration to sell as a family home.
Related words: House in multiple occupation, share, student, property
Units with floor area below 30m2 by referral only.
Related words: Footprint, square feet
All properties less than 10 years old must hold an adequate warranty.
CHL accepts the following new build warranties:
- National House-Building Council Buildmark Scheme (NHBC)
- Building Life Plan
- Premium Guarantee Scheme
- Checkmate Castle 10
- LABC New Home Warranty
- Build-Zone Structural Warranty
- Zurich Municipal
- Advantage
- Aedis Warranties
- Global Home Warranties
- Protek
- ICW
- Ark Residential New Build Warranty
- UK Finance compliant Professional Consultants Certificate (PCC) with accompanying Professional Indemnity Insurance*
CHL can consider other new build warranty/insurance schemes where the policy meets the following:
- Provided by an ‘A’ rated insurer by one of the following rating agencies A.M Best, Fitch, Moody’s or S&P.
- Provides cover for a minimum of ten-years from completion of the first sale.
- Includes the cost of complete or part rebuilding in the event of a building defect or structural failure.
- Is fully transferable to a subsequent owner / buyer or a mortgage lender in possession within at least the first 10 years.
- Physical technical site inspections must have occurred at key stages on at least a sample basis.
- The maximum claim must not be less than, the higher of, the re-build cost of the property and the loan amount.
- Claim excesses should be reasonable (in general this should not exceed £1,000).
* CHL Mortgages will not accept retrospective warranties where periodic site visits during the construction/conversion process were not conducted.
Related words: Property development, construction, age
Positive valuer comments required
Related words: Retail, shop, cafe, restaurant, business
Max. 10 storeys in a block inside M25 (5 elsewhere). Areas with medium / high levels of private ownership.
Related words: Council property, ex-council, social housing, former
- 80%
Fees can be added to all products.
Related words: Loan to value, loan size, loan amount, council
Standard, Studio Flat, New Build, Above/Adjacent to Commercial, Ex-local Authority, HMO – Freehold and Leasehold, MUFB – Freehold Only. Leasehold terms of less than 76 years remaining at application considered at underwriter discretion and are subject to a maximum LTV of 60%. Minimum 51 years remaining at maturity. Transactions involving headlease/sub lease are unacceptable.
Related words: Short lease, expiry