Chetwood Bank
Chetwood Bank is a UK digital bank offering FSCS-protected retail savings products directly to consumers and buy-to-let mortgages exclusively through mortgage intermediaries under its ModaMortgages and CHL Mortgages brands.
- Company typePrivate
- Founded2016
- HeadquartersWrexham, United Kingdom
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Chetwood Bank does
Chetwood Bank is a UK-based digital bank, launched in 2016 in Wrexham and operating under Chetwood Financial Limited, providing retail savings products (Easy Access, Fixed Rate bonds from 3 months to 5 years, and 35/70/105-day Notice Accounts) and buy-to-let mortgages. Savings are sold directly via chetwoodbank.co.uk and through approved partner platforms (Flagstone, Hargreaves Lansdown, Insignis) plus comparison sites, while mortgages are distributed exclusively through intermediaries under the ModaMortgages (100% online automated underwriting) and CHL Mortgages (hybrid online/manual underwriting) brands, both acquired/built within the Chetwood Group. Core technology is the proprietary Yobota Banking-as-a-Service platform (wholly-owned subsidiary, based in London), which underpins the digital onboarding, secure online banking, and automated application processing; the bank integrates with GoCardless for Direct Debits and with TransUnion, Equifax, and Experian for credit and identity checks.
The bank's revenue model is a classic spread-and-fee model: it accepts retail deposits at competitive headline rates (3.78% AER on Easy Access up to 4.81% AER on 5-Year Fixed) and lends those funds out as buy-to-let mortgages, earning net interest margin plus origination fees; from June 2026 a Wholesale Banking division adds tailored lending to corporates, institutions, and specialist CRE borrowers. Deposits are FSCS-protected up to £120,000 per depositor under the single banking licence. The business is authorised and regulated by both the FCA and PRA (registration 740551) and is ultimately controlled by Elliott Investment Management, with approximately £1bn of deposit growth reported in December 2025. Customers include UK retail savers seeking competitive rates with a simple digital experience, individual and limited-company BTL landlords served via brokers, and — newly — corporate and institutional wholesale borrowers.
Chetwood Bank firmographics
Firmographics- Name
- Chetwood Bank
- Legal name
- Chetwood Financial Limited
- Website
- https://chetwoodbank.co.uk
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Chetwood Bank is a UK digital bank offering FSCS-protected retail savings products directly to consumers and buy-to-let mortgages exclusively through mortgage intermediaries under its ModaMortgages and CHL Mortgages brands.
- Ownership category
- akta.pro rank
Chetwood Bank industry classification
Industry- Product category
- Digital Banking
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Real Estate Credit (522292)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Savings Institution, Federally Chartered (6035), National Commercial Banks (6021)
- akta.pro primary industry
- CMBS Conduit Lending (FSALADAF)
- akta.pro secondary industries
- Mortgage-Backed Securities (RMBS/CMBS) (FSACACAB), Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB), Securitized Products & Mortgage Credit (RMBS/CMBS/Non-Agency) (FSAHAGAD)
Keywords
Where Chetwood Bank is headquartered
LocationHeadquarters
- HQ city
- Wrexham
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Chetwood Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Savings Deposit Interest Spread: Chetwood Bank offers competitive savings rates to attract deposits and uses those funds to provide mortgage lending. The bank earns the spread between mortgage interest rates charged to borrowers and savings interest rates paid to depositors.
- Mortgage Lending: Provides buy-to-let mortgages via ModaMortgages and CHL Mortgages brands exclusively through intermediaries. Revenue generated from mortgage interest and fees on originated loans.
- Wholesale Banking: Newly launched division providing tailored lending solutions to corporates, institutions, and specialist lending customers to diversify income and support strategic growth.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Easy Access Savings - 3.78% AER variable rate with next working day access |
| Subscription | Monthly | 35 Day Notice Account - 4.01% AER variable rate |
| Subscription | Monthly | 70 Day Notice Account - 4.06% AER variable rate |
| Subscription | Monthly | 105 Day Notice Account - 4.19% AER variable rate |
| One time/ perpetual license | Multi-year contract | 3 Month Fixed Rate - 4.15% AER fixed rate |
| One time/ perpetual license | Multi-year contract | 6 Month Fixed Rate - 4.40% AER fixed rate |
| One time/ perpetual license | Multi-year contract | 1 Year Fixed Rate - 4.65% AER fixed rate |
| One time/ perpetual license | Multi-year contract | 2 Year Fixed Rate - 4.77% AER fixed rate |
| One time/ perpetual license | Multi-year contract | 3 Year Fixed Rate - 4.78% AER fixed rate |
| One time/ perpetual license | Multi-year contract | 5 Year Fixed Rate - 4.81% AER fixed rate |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels5 records
Chetwood Bank product offering
Product offeringCore offering
Chetwood Bank is a UK-based digital bank operating under Chetwood Financial Limited that offers retail savings accounts (Easy Access, Fixed Rate, Notice, and Holding accounts) directly to consumers and buy-to-let mortgages exclusively through mortgage intermediaries via its ModaMortgages and CHL Mortgages sub-brands. In 2026, the bank expanded into Wholesale Banking, providing tailored lending solutions to corporates, institutions, and specialist lending customers. The bank is regulated by the FCA and PRA, with deposits protected by the FSCS up to £120,000.
Product overview
Chetwood Bank is a UK-based digital bank operating as a multi-brand platform under Chetwood Financial Limited. The core offering combines savings products (Easy Access, Fixed Rate, Notice Accounts, Holding Accounts) with mortgage lending through subsidiary brands. The mortgage business operates via ModaMortgages (fully automated online process) and CHL Mortgages (hybrid online plus manual underwriting for complex cases), both serving intermediaries and brokers exclusively. Additional brands in the Chetwood Group include BetterBorrow, LiveLend, Wave, and Yobota (BaaS platform), covering various lending and banking needs. The group acquired CHL Mortgages for Intermediaries in 2024 and launched a Wholesale Banking division in 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- Easy Access Savings Account
Quantifiable outcome
- 100% online automated mortgage application process available through ModaMortgages
- +1 more outcomes
Companies that use Chetwood Bank
Customer profileSegments4 records
Ideal customer profiles3 records
Chetwood Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Chetwood Bank partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- FlagstoneminorApproved partner platform that offers Chetwood Bank savings products to their customers through a cash savings platform.
- Hargreaves LansdownminorApproved partner platform offering Chetwood Bank savings products to their customer base.
- InsignisminorApproved partner platform offering Chetwood Bank savings products to their customers.
- Yobota LimitedcoreYobota Limited is part of the Chetwood Group and provides the core technology platform for digital banking operations.
- CHL Mortgages for Intermediaries LimitedcorePart of the Chetwood Group, operates CHL Mortgages brand under licence from Capital Home Loans Limited. Provides mortgage products via blend of online service and manual underwriting.
- Coleg CambriaminorApprenticeship partner for Chetwood Bank's apprenticeship programme covering cyber security, customer services, operations, and software engineering.
- Capital Home Loans LimitedcoreLicensor of CHL Mortgages brand to CHL Mortgages for Intermediaries Limited. Registered office: Chetwood Bank, Ellice Way, Wrexham Technology Park Wrexham LL13 7YT (Company No 12954007).
Scale indicators3 records
Recent moves7 records
Expansion highlights6 records
Chetwood Bank competitors and assessment
Company assessmentDirect peers
- Atom Bank: UK digital challenger bank offering savings products and mortgages to retail and SME customers. Directly comparable as a UK-headquartered digital bank with deposit-gathering and mortgage lending under a single banking licence.
- Aldermore Bank: UK challenger bank owned by First Sentier Investors focused on savings deposits, buy-to-let and commercial mortgages. Closely comparable deposit-funded, mortgage-led business model.
- Shawbrook Bank: UK specialist challenger bank focused on BTL, commercial and specialist mortgages funded by retail savings. Comparable niche-lending, deposit-funded model; relevant because Chetwood's COO previously led Shawbrook's digital transformation.
- OneSavings Bank (OSB Group): UK challenger bank group operating Kent Reliance and Charter Court brands, focused on specialist mortgages and savings. Highly comparable buy-to-let and specialist mortgage business funded by retail deposits; Chetwood's CFO previously held a senior capital markets role at OSB.
- Tandem Bank: UK digital challenger bank offering savings and green home loans. Comparable UK digital savings-and-mortgage challenger; relevant because Chetwood's CEO led Pollen Street Capital's investment into Tandem.
- Foundation Home Loans: UK specialist buy-to-let and residential mortgage lender distributed exclusively through intermediaries. Directly comparable BTL specialist with broker-only distribution; Chetwood's MD of Mortgages previously held senior roles there.
- Paratus AMC: UK specialist BTL and bridging finance lender with broker distribution. Comparable niche buy-to-let mortgage specialist; relevant because Chetwood's MD of Mortgages previously worked at Paratus AMC.
Broad incumbents
- Metro Bank: UK challenger bank offering retail savings, mortgages and commercial banking. Comparable as a UK challenger with deposit-gathering and mortgage operations, though Metro operates physical branches and a broader product set.
Emerging players
- Starling Bank: UK digital challenger bank with a mobile-first current account, savings and B2B banking. Comparable as a UK digital bank with retail savings, but Starling is app-first with broader consumer current-account focus rather than BTL mortgages.
- Recognise Bank: UK challenger bank offering business savings and lending products with an SME and intermediary focus. Comparable as a smaller UK challenger with deposit-gathering and specialist lending; relevant because a Chetwood NED also serves on Recognise's board.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Chetwood Bank social profiles
Digital presenceChetwood Bank compliance and trust
Trust signalCompliance5 records
Chetwood Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chetwood Bank leadership team
Management profileNumber of profiles
Profiles16 records
Chetwood Bank subsidiaries and ownership
Company hierarchySubsidiaries2 records
Chetwood Bank funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chetwood Bank M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chetwood Bank
What does Chetwood Bank do?
Chetwood Bank is a UK-based digital bank operating under Chetwood Financial Limited that offers retail savings accounts (Easy Access, Fixed Rate, Notice, and Holding accounts) directly to consumers and buy-to-let mortgages exclusively through mortgage intermediaries via its ModaMortgages and CHL Mortgages sub-brands. In 2026, the bank expanded into Wholesale Banking, providing tailored lending solutions to corporates, institutions, and specialist lending customers. The bank is regulated by the FCA and PRA, with deposits protected by the FSCS up to £120,000.
Is Chetwood Bank a public or private company?
Chetwood Bank is a private company. It is classified as private equity controlled and is currently operating.
When was Chetwood Bank founded?
Chetwood Bank was founded in 2016. It employs 251 to 500 people.
Where is Chetwood Bank based?
Chetwood Bank is headquartered in Wrexham, United Kingdom, in the Europe region.
How does Chetwood Bank make money?
Three revenue lines are on record. Savings Deposit Interest Spread is the primary driver. The others are mortgage Lending and wholesale Banking.
Who are Chetwood Bank's main competitors?
Direct peers on record are Atom Bank, Aldermore Bank, Shawbrook Bank, OneSavings Bank (OSB Group), Tandem Bank, Foundation Home Loans and Paratus AMC. Metro Bank is listed as a broad incumbent. Emerging players are Starling Bank and Recognise Bank.
Does Chetwood Bank have an API?
No public API is recorded for Chetwood Bank.
What industry is Chetwood Bank in?
Chetwood Bank's product category is Digital Banking. Its primary akta.pro industry code is FSALADAF, CMBS Conduit Lending, with a secondary code of FSACACAB, Mortgage-Backed Securities (RMBS/CMBS). Its NAICS code is 5221 and its SIC code is 6162.