Digital bank Chetwood Financial acquires buy-to-let mortage lender CMI


Wrexham headquartered digital bank Chetwood Financial has completed the acquisition of buy-to-let mortgage lender CHL Mortgages for Intermediaries (CMI).

The value of the acquisition deal with owner of CMI, Barossa Asset Purchaser Sarl, has not been disclosed. Chetwood entered a competitive bidding process to acquire the lender, which trades as CHL Mortgages.

Chetwood said Hampshire headquartered CMI will continue to operate as usual with no impact on staffing numbers and lending operations. However, they said both operations will benefit from their respective expertise, while continuing to operate independently under their own brands.

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The acquisition will enable Chetwood to grow its mortgage loan book and expand its reach within the mortgage intermediary market, while CMI’s specialist lending team will complement Chetwood’s soon-to-launch ModaMortgages’ proposition.

Chetwood Financial’s founder and chief executive, Andy Mielczarek, said: “When the chance presented itself to acquire CMI, we felt it was simply too good an opportunity to miss out on, so we’re delighted that the deal is now complete. CMI is an established, respected brand in the specialist lending space, and we have ambitions to grow operations further in the months and years to come.

“The CMI proposition will complement that of our soon-to-launch ModaMortgages’ proposition perfectly. We’re excited to see both brands flourish side-by-side – and while they will operate independently, there’s no doubt that having so much specialist lending knowledge and skill within Chetwood will only contribute to their respective successes.”


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