CHL Mortgages has launched a bridging proposition offering both regulated and unregulated mortgages for purchase and refurbishment.

Products will initially be available through selected mortgage clubs and packager panels, before being rolled out more widely.

The range includes standard and light refurbishment loans for uses including chain-breaks, auctions and renovation projects, alongside heavy refurbishment products for larger schemes involving structural works, CHL says.

Chetwood Bank group distribution director Roger Morris says: “Entering into the bridging market is a key milestone in our development and represents another important step in the evolution of our specialist lending proposition.

“It enables us to serve a broader range of borrowers by giving us the ability to provide both regulated and non-regulated solutions for a host of property scenarios and refurbishment projects where short-term finance is required.”