You are here: Home - Specialist Lending - Bridging -

LendInvest targets homeowner launch and unveils holiday let range

  • 12/10/2021
  • 0
LendInvest targets homeowner launch and unveils holiday let range
LendInvest has confirmed its plans to move into the specialist homeowner space next year.

Announcing its results for the six months to the end of September, the lender revealed that it intends to launch a specialist homeowner product in 2022.

Esther Morley, formerly managing director of mortgages at Secure Trust Bank, has been appointed as managing director of homeowner mortgages at LendInvest to oversee the launch.

She previously spent 10 years at Kensington Group, where she was responsible for the origination and portfolio performance of its specialist mortgage business.

Over the reporting period, LendInvest saw its platform assets under management grow by almost a third to £1.8bn, which it said was mainly driven by record originations within its buy-to-let (BTL) division.

The lender also pointed to the successful closing of its third residential-mortgage backed securitisation, and the renegotiation and expansion of its financial partnerships with the likes of Citi and National Australia Bank, as highlights of the period.

Technology remains an area of focus for LendInvest, which increased the size of its technology team by 26 per cent in the period. It has recruited Peter Wallis as vice president of technology. Wallis was previously chief technology officer at Sporting Group.

The results are the first published by LendInvest since it started trading on the Alternative Investment Market in July.

Launching into holiday lets

Alongside the publishing of the results, LendInvest has introduced a holiday let range, with rates starting at 3.59 per cent for two-year fixed rates up to 65 per cent loan-to-value (LTV).

It has also reduced rates on both its standard BTL deals and small HMO range, and launched a seven-year fixed rate starting from 2.99 per cent at 65 per cent LTV. 

Andy Virgo (pictured), sales director at LendInvest, said the lender had been “eager” to implement these changes to its product range.

He added: “Supporting landlords who are experienced in, or have diversified into the short-term let market is a natural progression for us, as we continue to broaden our funding sources we are keen to keep tailoring our offering, and delivering new products that fill the gaps we see in the market.”

There are 0 Comment(s)

You may also be interested in