Chetwood Bank has increased the maximum buy-to-let (BTL) exposure limit to £10 million for both its ModaMortgages and CHL Mortgages for Intermediaries brands.

The UK-based digital challenger bank is doubling both lenders’ previous lending limits of £5 million to help support brokers with clients looking to grow their portfolios or purchase higher value properties.

It is also removing the 20-property portfolio limit on ModaMortgages, which means borrowers can now own unlimited properties up to £10 million with either brand, as well as with other lenders.

Chetwood Bank will continue to subject all cases to underwriting review and assessment, with applicants’ circumstances and the impact of future interest rate increases taken into consideration.

Chetwood Bank group sales director Darrell Walker says: “Raising our maximum exposure limit to £10 million for both our mortgage lenders marks an important step in our continued support for landlords and property investors.”

“As the market evolves, we remain focused on delivering flexible, competitive products, including solutions that enable larger-scale portfolio growth and support higher value investments.”