Bridging
LendInvest adds BNP Paribas to £300m financing syndicate
Mortgage platform LendInvest has brought BNP Paribas to its £300m financing syndicate with HSBC and Barclays to “support the continued growth of its short-term mortgages”.
BNP Paribas joins several other financial institutions, including Lloyds, JP Morgan, Wells Fargo, Citi and National Australia Bank, who support the company’s mortgage products.
The syndicate supports its short-term mortgages, which includes financing the refurbishment of old housing back into circulation across the UK.
LendInvest said that the partnership boosts its funds under management to £3.7bn.
The company has been growing its funding base, bringing on Wells Fargo to its £200m financing syndicate for buy-to-let in April and launching residential mortgage offering with Lloyds Banking Group in March.
Rod Lockhart (pictured), chief executive officer of LendInvest, commented: “We are thrilled to welcome BNP Paribas to our growing roster of global financial partners and institutional investors, not only demonstrating their trust in our capabilities and the continued momentum in our business, but significantly supporting our short-term mortgage proposition.
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“Housing supply is a fundamental issue in the UK at the moment and our short-term mortgages play a key role in addressing this by helping developers refurbish and upgrade old housing stock.”