ModaMortgages was launched earlier this year, aiming to offer “smarter, faster, simpler” buy-to-let (BTL) mortgages.
CHL Mortgages has been active in the market for over 25 years and was acquired by Chetwood Bank in 2024.
Chetwood Bank said its move into the specialist mortgage market has “delivered early success”, noting that “high volumes of loans” have been “delivered in a short period of time”.
The success has been attributed to its funding model, with the bank holding over £4bn in total customer deposits across its savings ranges and flows from distribution partners.
Chetwood Bank also deploys capital through forward‑flow agreements and dedicated funding lines for select non‑bank lenders.
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Ian Lonergan is the group chair – formerly the CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK.
Alan Cleary and Roger Morris also joined the Chetwood Bank team last year.
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.
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.”
