LendInvest brings Wells Fargo in to £200m financing syndicate to grow buy to let

Wells Fargo is the latest institution to back LendInvests’ mortgage products, with Lloyds, JP Morgan, HSBC, Barclays and Citi also funding some of its deals.

LendInvest launched its buy-to-let mortgage product five years ago, and since then its platform assets under management for this segment reached £1.8bn in September last year and represents three quarters of the company’s total platform assets under management.

The company said its modern technology, end-to-end online platform and “commercially-focused yet credit robust lending approach” helped mitigate pain points in the mortgage process for brokers and borrowers.

It continued that it offers instant decisions, better user experience and fast turnaround times.

The platform entered the residential mortgage market this year, targeting borrowers with complex sources of income that are underserved by current lenders.

Rod Lockhart, chief executive officer of LendInvest, said: “We are delighted to partner with Wells Fargo as we continue to grow and diversify our funding sources and further expand our buy-to-let business.

“This most recent partnership demonstrates the ongoing appetite from global financial institutions to invest in the buy-to-let sector, and we look forward to working closely with Wells Fargo.”

He added: “With our disruptive technology and full suite of property finance products, we are poised to capture an increasing share of the UK mortgage market and support the ongoing modernisation of UK property to support a cleaner, greener future.”