Lendco said that the facility will support its growth plans, especially scaling its buy-to-let proposition.

The company’s loan book is nearing £1.5bn, and application volumes in Q4 have exceeded £200m.

Adrian Scragg, director of treasury, capital markets, and ESG of Lendco, said: “This is another important step on our journey to further scale and optimise our funding platform as we position ourselves for a strong 2024. This caps a fantastic year for the team, where we have succeeded in raising over £1.1bn.”

He added: “We are proud to have built a number of strong, long-lasting relationships with our funding partners and we are really excited to begin our relationship with the Santander CIB team – we appreciate the belief they have shown in Lendco and look forward to working with them for a long time to come.”