You are here: Home - Specialist Lending - Bridging -

Record-breaking month for LendInvest

by: Rebekah Commane
  • 06/04/2016
  • 0
Record-breaking month for LendInvest
Short-term property finance provider LendInvest experienced a record-breaking month in March with the highest volume of lending since it’s launch.

LendInvest was set up in 2013 and completed over £50m worth of bridging loans in March, having predicted a surge in advance of the Stamp Duty surcharge deadline on 1 April.

The firm also closed £10m of new investment in its Real Estate Opportunities Fund in March, another record for LendInvest Capital, the company’s regulated fund management division.

Head of distribution at LendInvest Matt Tooth said: “From the moment the Chancellor announced that additional Stamp Duty would be charged on second homes back in the Autumn Statement, we knew that March would be a big month. Property investors very sensibly want to avoid paying more Stamp Duty than they have to.

“At LendInvest we never applied a strict deadline for applications earlier in the year, like many other lenders had to, and were able to stay open for deals right up to the deadline. That’s not to say that closing this volume of deals in one month was easy. It took a lot of toil to get those deals over the line for our borrowers in such a short time-frame, and the team deserves a huge pat on the back.”

LendInvest has lent more than £560m since launching, funding more than 1,200 new or rebuilt houses in 2015 alone.

 

There are 0 Comment(s)

You may also be interested in