Considered on a case-by-case basis. First-time buyers are individuals who’ve not owned a UK property within the last 18 months.
Number of applicants
Private ownership: Up to 4 applicants Limited companies: Up to 4 directors
Age limits
Minimum age: 25 Maximum age: 85 at end of term
Heavy refurbishment bridging
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 …