LendInvest secures £500m funding line
LendInvest plc (AIM: LINV; “LendInvest” or the “Group”), the UK’s leading platform for mortgages, has today announced a £500 million investment to fund part of its future mortgage originations for its Buy-to-Let and Residential Mortgage products from Chetwood Financial Limited.
This new funding will further the growth of LendInvest’s Buy-to-Let business, which supports professional landlords, as well as its newly launched Residential Mortgage range, which has been developed to support customers who are underserved by high street mortgage providers.
LendInvest’s proprietary technology platform makes even the most complex of cases simpler and faster, and improves the experience for prospective homeowners, property developers and professional landlords.
Chetwood joins the growing roster of global financial institutions choosing to support LendInvest’s mortgage products, including Barclays Bank, BNP Paribas, Citi, HSBC, JP Morgan, Lloyds, National Australia Bank and Wells Fargo.
Rod Lockhart, Chief Executive Officer at LendInvest commented:
“We are delighted to receive this funding from Chetwood to support the scaling of our BTL and residential mortgage products.
This funding follows our recent sale of a portfolio of residential buy-to-let mortgages to Chetwood for £243 million, and further strengthens our partnership with the business.
The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest.
This investment will strengthen our BTL proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation.”