JPMorgan Chase has agreed to fund £500mn worth of home loans offered by FinTech LendInvest.
In Brief:
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These will be buy-to-let loans offered through the platform.
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LendInvest is an alternative lender for property professionals and SMEs in the UK.
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This comes with the news JPMorgan is looking to set up a challenger bank in the UK.
What does this mean?
LendInvest has so far lent over £3.5bn to customers over around 10 years, with its loan book increasing by 27% from April-September last year.
