Chetwood Bank, the digital challenger bank, has reached £1bn in mortgage lending for the 2024/25 financial year.
Chetwood Bank said the milestone was achieved due to a strong funding model, holding over £4bn in customer deposits across savings products and from distribution partners, and the experience of its team.
Andrew Arwas, managing director for mortgages at Chetwood Bank, 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.”
Darrell Walker (pictured), group sales director at CHL Mortgages, said: “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.”
Walker added: “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.”
