Funding will be used to launch into homeowner mortgages
IN BRIEF:
- LendInvest announced increased funding from Lloyds Bank now totalling £300 million to support its entry into the UK’s £1.2 trillion homeowner mortgage market
- LendInvest’s home owner mortgage product, which beta launched in December 2022 with a select group of mortgage brokers, is due to launch more widely in 2023
- LendInvest now has more than £3.6 billion (£3.4 billion as at 30 September 2022) of Funds under Management, providing investors with opportunities to gain exposure to the UK property finance market
What does this mean?
Rod Lockhart, Chief Executive Officer at LendInvest commented: “We are delighted to receive this increase in the warehouse funding line from Lloyds now totalling £300 million as we take our first step into the homeowner mortgage market … the complexity of this part of the UK mortgage market makes it ripe for disruption by our purpose-built technology and is a natural evolution for us following our launch into buy-to-let mortgages in 2017.”
