Lendco is the joint venture between brokerage SPF Private Clients and private equity firm Cabot Square Capital. Since agreeing its first loan in September 2018, the lender has completed 1,200 loans and totalling £460m.
Simon Knight is ex-CEO of specialist lender GMAC and later mortgage broker John Charcol, which he left in 2017.
It offers mortgage lending and bridging finance to property investors and professional landlords. It currently works with a broker panel of 70 firms with a focus on high net worth individuals.
Simon Knight (pictured), managing director of Lendco, said: “We have achieved a great deal in a relatively short time but in a very measured way. Our focus is always on quality and we were delighted to get such a great reception from multiple UK and EU investors, ending up being four times oversubscribed for our inaugural securitisation.
“We aim to continue to grow Lendco in 2021 and we will need to increase our breadth of distribution to do that.”
Mark Harris, SPF Group CEO, added: “It is quite remarkable what has been achieved in two years, with Simon and his team building a lender from a standing start to £460m of completions.
“When you throw in the uncertainty over Brexit during that time and then an unprecedented global pandemic, this first securitisation is even more impressive.”