Complex Buy To Let
LendInvest secures £500m in funding
Specialist lender LendInvest has agreed a £500m financial partnership with Chetwood Bank to fund part of its future mortgage originations for its buy-to-let and residential mortgage products.
The firm said that funding would help support the growth of its buy-to-let business, which is aimed at its professional landlords, and bolsters it recently-launched residential mortgage range which is aimed at those “underserved by high street mortgage providers”.
The partnership comes off the back of bringing Wells Fargo and BNP Paribas into its financing syndicate to grow its buy-to-let business and
Other financial institutions backing LendInvest’s proposition include Barclays, Citi, HSBC, JP Morgan, Lloyds Banking Group and National Australia Bank.
Rod Lockhart, chief executive officer at LendInvest, said: “We are delighted to receive this funding from Chetwood to support the scaling of our buy-to-let and residential mortgage products.
“This funding follows our recent sale of a portfolio of residential buy-to-let mortgages to Chetwood for £243m, and further strengthens our partnership with the business.”
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He added: “The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest.
“This investment will strengthen our buy-to-let proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation.”