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Digital bank Chetwood Financial appoints new chair

Chetwood chair
Image credit: Chetwood Financial

Wrexham-based digital bank Chetwood Financial has appointed Ian Lonergan as chair as it gears up to launch a buy-to-let mortgage product.

Lonergan has worked in the financial services sector for 30 years, including as founder and CEO of but-to-let mortgage lender Precise Mortgages.

He has also held roles at GMAC, AMP and Ernst & Young. Founded in 2016, Chetwood provides four segmented consumer products. It received its full UK banking licence in 2018.

The bank is planning to launch a specialist buy-to-let mortgage lending offering called ModaMortgages, which Lonergan has been helping to develop since 2021.

“The upcoming launch of ModaMortgages is very exciting, but across the board, Chetwood is delivering products that truly stand out in a financial services sector that can often be slow and inflexible,” Lonergan said.

As group chair, he will lead the Chetwood board and provide oversight on strategy.

Andy Mielczarek, founder and CEO of Chetwood, said that Lonergan “brings an immense amount of financial services experience and knows how to help companies scale at pace while offering an exceptional customer experience”.

In March last year, Chetwood acquired London-based banking as a service company Yobota.