Capital Home Loans is launching into the sub-prime sector by launching a distribution agreement with Mortgages plc.
Under the terms of the deal CHL will market the entire Mortgages plc product range to intermediaries under th CHL Sub-Prime brand.
A specialist division has been set up at CHL’s head office in Fleet, Hampshire, and a team of full-time underwriters has been employed.
CHL Sub Prime will operate alongside CHL’s existing traditional core buy-to-let and self-certification business. The launch gives CHL a range of products that covers all areas of the market, from prime to heavy adverse.
CHL managing director Bob Young: “Our aim is to ensure brokers have access to excellent products and provide them with a fast and efficient service. We’re all excited about this new initiative.”
Mortgages plc sales and marketing director Peter Beaumont says: “We are delighted to be extending our lender relationship programme to include Capital Home Loans. Intermediaries using the products on offer from CHL Sub-Prime will be able to produce CHL branded KFIs via a facility on the CHL website.”