LendInvest scores a £500m investment boost

Property lender LendInvest has been given a £500m investment fillip to fund its future lending.

The London-listed fintech has announced a £500m investment to fund part of its future mortgage originations for its buy-to-let and residential mortgage products.

The funding comes from Chetwood Financial Limited, a digital bank, which LendInvest has an existing partnership with.

LendInvest’s buy-to-let business is geared towards professional landlords while its newly launched residential mortgage range is aimed at customers who are underserved by high-street mortgage providers.

Wrexham-based Chetwood joins the likes of Barclays Bank, BNP Paribas, Citi, HSBC, JP Morgan, Lloyds, National Australia Bank and Wells Fargo in supporting LendInvest’s mortgage products.

LendInvest has previously sold a £243m buy-to-let portfolio to Chetwood.

Rod Lockhart, CEO, LendInvest said “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.”

In April this year, LendInvest said its assets under management reached £2.58bn at the end of March, a year-on-year increase of 20.5 per cent.

Its performance, revealed in a trading update, 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.

The company is due to report its full-year results in mid-July, and says they’re expected to fall in line with expectations.