Lendinvest launches pre-qualified auction finance venture

The deal will see LendInvest pre-qualify properties it is willing to lend against, should they be bought via its partner’s online auctions.

The eligible properties will carry LendInvest’s logo so bidders and their brokers know about the financing option before they enter the auction process.

The lots’ information page will also offer summary funding details alongside the typical property information, such as floor plans and legal documents.

LendInvest head of distribution Matthew Tooth (pictured) said: “Online auctions are an excellent option for investors looking to secure a good price on their next investment property. This partnership has been designed to ensure prospective buyers and their brokers can move quickly to secure finance on any property that catches their eye.”

The partnership, which is now live, was originally announced in August. LOT11 offers properties across the asset classes for auction on a weekly and quarterly basis.

The partnership’s first auction will be held on 27 September with relevant properties being made available to view on the LOT11 website three weeks beforehand.

LendInvest is a short-term lender, which spun out of Montello Bridging Finance in summer 2013. The lender secures all loans by a registered first charge against property in the UK.