UK-based property finance platform LendInvest has secured an investment of £500m from Chetwood Financial to finance part of its future mortgage originations for its buy-to-let and residential mortgage offerings.
According to the mortgage platform, the new funding will advance the growth of its buy-to-let business as well as its newly launched residential mortgage range.
LendInvest’s buy-to-let business supports professional landlords while the residential mortgage range has been developed to assist customers who are overlooked by high street mortgage providers.
The firm’s proprietary technology platform is said to streamline and advance even the most complicated cases apart from enhancing the experience for potential homeowners, professional landlords, and property developers.
Through the investment, Chetwood Financial has joined the global financial institutions that support LendInvest’s mortgage products, including BNP Paribas, Citi, Barclays Bank, HSBC, JP Morgan, Lloyds, Wells Fargo, and National Australia Bank.
LendInvest CEO Rod Lockhart said: “This funding follows our recent sale of a portfolio of residential buy-to-let mortgages to Chetwood for £243 million, and further strengthens our partnership with the business.
“The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest.
“This investment will strengthen our BTL proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation.”
Established in 2008, LendInvest provides intermediaries, landlords, and developers with short-term, development and buy-to-let mortgages.
The fintech company claims to have lent more than £3bn of short term, development, and buy to let mortgages.
In 2019, LendInvest securitised a portfolio of BTL mortgages.
