They join the syndicate alongside HSBC and Barclays
IN BRIEF:
LendInvest has increased its funding line from HSBC and Barclays to £300m, with the addition of French bank BNP Paribas
This takes LendInvest’s total funds under management to £3.7bn
The funding will be used for LendInvest’s short-term mortgages, with £100m of new funds under management as part of today’s announcement
What does this mean?
"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,” said LendInvest CEO Rod Lockhart. "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.”
