LendInvest assets reach £2.58bn despite market slowdown
The lender reported a 20.5% increase in AuM, as rising rates weighed on borrowing.
Property lender LendInvest saw its assets under management reach £2.58bn at the end of March, a year-on-year increase of 20.5 per cent.
Its performance, revealed in a trading update today, came despite the property market slowdown caused by rising interest rates and the last Government’s disastrous mini-budget in September 2022 which led many lenders to temporarily withdraw from the market.
LendInvest said it continues to see resilient demand among its borrowers looking for professional buy-to-let mortgages, bridging loans and development finance.
"While we remain mindful of the macroeconomic backdrop, we have confidence in our growth strategy,” said CEO Rod Lockhart.
“Our technology enables us to continue developing disruptive new solutions in existing and new parts of the mortgage market, giving us a competitive edge with brokers and borrowers and helping us to continue to attract diverse sources of capital."
The company is due to report its full-year results in mid-July, and says they’re expected to fall in-line with expectations.
“Our recent launch into residential mortgages will continue to ramp up and provide a tremendous long-term growth opportunity as we leverage our technology to make even the most complex of mortgage applications simpler and faster for a neglected customer base,” LendInvest told investors.