Definition Suitable for properties where: Example uses A new homes warranty from an accepted warranty provider or professional consultants certificate must be provided at completion for conversions to flats. Related words: uninhabitable, repurpose, major works
Standard bridging
Definition Where short-term finance is required and is secured on a property in a habitable condition and does not require any improvement works. Example uses Related words: short-term loan, rolled interest
Light refurbishment bridging
Definition Suitable for properties where: Example uses
New Build
A property built or converted within the last 12 months or a property that has never been lived in in its current format. All properties less than 10 years old must hold an adequate warranty. See also New Build Warranties. Related words: Property development, construction, age
Product Switch/Transfer
All Product Switches/Transfers must be applied for by a professional mortgage adviser registered with CHL Mortgages for Intermediaries (those not already registered to submit business can do so here). The customer benefits of applying for a Product Switch/Transfer: Product Switch/Transfer eligibility requirements To be considered for a Product Switch/Transfer: CHL Mortgages reserves the right to …
MUFB Availability
Available to both Individual and Limited Companies / LLP applicants. CHL 1: Small MUFB onlyCHL 2: Small & Large MUFB (including Complex HMO & Hybrid MUFB) Related words: Ltd Co, SPV, House in multiple occupation
MUFB
A Multi-unit Freehold Block (MUFB)is a block of self-contained units on a single freehold title. Any element of commercial usage is unacceptable. Small MUFB (Available in CHL 1 & CHL 2 ranges)Blocks with up to 6 self-contained units where there is no HMO element.Each unit must have separate services Large MUFB (Available in CHL 2 …
Property sourcing companies
Considered on a case by case referral basis. Related words: property management, investment, portfolio, agent
