BNP Paribas joins £300m LendInvest syndicate with HSBC and Barclays

Property lender LendInvest has increased its funding line from HSBC and Barclays to £300m, with the addition of French bank BNP Paribas.

The funding will be used for LendInvest’s short-term mortgages, with £100m of new funds under management as part of today’s announcement.

Along with HSBC and Barclays,BNP Paribas joins LendInvest’s long list of institutional funders which include JP Morgan, Wells Fargo, Citi and NAB.

"Housing supply is a fundamental issue in the UK at the moment and our short-term mortgages play a key role in addressing this by helping developers refurbish and upgrade old housing stock,” said LendInvest CEO Rod Lockhart.

"We are thrilled to welcome BNP Paribas to our growing roster of global financial partners and institutional investors, not only demonstrating their trust in our capabilities and the continued momentum in our business, but significantly supporting our short-term mortgage proposition.”

The addition of BNP Paribas, coming soon after Wells Fargo joined in April, increases LendInvest’s total funds under management now to £3.7bn.