LendInvest to bolster development finance offering after £150m investment

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  • 04/09/2018
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LendInvest to bolster development finance offering after £150m investment
LendInvest has secured £150m of funding for residential development finance in order to grow the lender’s market offering.

 

The latest cash injection into the online platform comes via investment bank Nomura and investment manager Magnetar.

LendInvest said it will use the funding to grow and consolidate its position as a lender for property entrepreneurs.

The platform offers development finance for small-scale residential property projects, with loans available to experienced developers for periods of up to 30 months.

LendInvest also offers bridging and buy-to-let finance.

The latest funding brings LendInvest’s total capital for lending to approximately £1bn.

Christian Faes, co-founder at LendInvest (pictured), said: LendInvest continues to attract investment from some of the largest and most sophisticated investors globally to our platform.

“Development finance is a key product for us as it complements our dominant position in short-term mortgages, and our expanding buy-to-let product, further establishing LendInvest as the ‘one-stop-shop’ for property entrepreneurs.

“This funding joint venture with Nomura and Magnetar will allow us to continue to grow our development finance product, and to provide much needed funding for SME house-builders across the country.”

Roger Cattermole, managing director at Nomura, added: “We are pleased to be working with LendInvest in order to boost its access to finance for developers.

“Nomura’s participation in this joint venture demonstrates our commitment to providing SMEs and property entrepreneurs with access to funding in an evolving UK residential property market in order to help grow businesses and ultimately support housing supply.”

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