Chetwood Bank hits £1 billion mortgage lending milestone

By Bridging Loan Directory 19th May 2025

Chetwood Bank is celebrating after hitting the £1 billion of mortgage lending milestone in the 2024/25 financial year.

The UK-based digital challenger bank operates two specialist buy-to-let mortgage lenders – ModaMortgages and CHL Mortgages for Intermediaries.

ModaMortgages was launched to market earlier this year as the home of ‘smarter, faster, simpler’ buy-to-let mortgages. CHL Mortgages for Intermediaries, which has been active in the market for more than 25 years, was acquired by Chetwood Bank in May 2024.

Chetwood Bank’s move into the specialist mortgage market has delivered early success, with high volumes of loans delivered in a short period of time.

It attributes this success to its robust funding model, the bank holds more than £4 billion in total customer deposits across its savings products and flows from distribution partners, and the strength of its team.

Andrew Arwas, Chetwood Bank’s managing director for mortgages, oversees the ModaMortgages and CHL Mortgages for Intermediaries propositions, alongside Darrell Walker, group sales director for Chetwood Bank, working across both lenders.

Ian Lonergan is group chair, he was previously CEO and founder of Precise Mortgages, which grew to be one of the largest buy-to-let and residential specialist mortgage lenders in the UK. Meanwhile, Alan Cleary and Roger Morris, two renowned figures in the mortgage sector, also joined the Chetwood Bank team last year.

In addition to originating loans through its specialist buy‑to‑let brands, Chetwood Bank also deploys capital via forward‑flow agreements and dedicated funding lines for select non‑bank lenders.

Arwas said:

“We’re delighted to celebrate this early but significant milestone. Having only acquired CHL Mortgages last May, and with ModaMortgages only officially launching in January this year, the early traction we’ve achieved is a testament to the strength of both propositions and the hard work of the team. Onwards and upwards from here.”

Walker added:

“The quality of both our lending propositions comes, in no small part, from the amazing foundations we have at Chetwood Bank.

Not only do we have a great team and strong finances, but we also benefit from the huge collective experience we have of developing and delivering financial products across different markets.

We understand what different borrowers and intermediaries need and have a razor-sharp focus on meeting those needs.

In the case of ModaMortgages and CHL Mortgages for Intermediaries, this means having a level of service that makes brokers’ lives easier, combined with the right blend of products that landlords want.

We have ambitious plans, and I look forward to seeing them unfold in the future as we grow and scale our specialist lending propositions.