LendInvest to Use New Funding to Enter Mortgage Market

  • LendInvest received increased funding from Lloyds Bank this week, bringing its total warehouse investment to $367 million (£300 million).
  • The boost in investment will help LendInvest enter the homeowner mortgage market, a $1.5 trillion (£1.2 trillion) opportunity.
  • LendInvest now has more than $4.4 billion (£3.6 billion) in funds under management.

U.K.-based property finance asset manager LendInvest scored an increase in warehouse funding from Lloyds Bank totaling $367 million (£300 million) this week. The purpose of the investment is to facilitate LendInvest’s entry into the mortgage market, which the company estimates to be a $1.5 trillion (£1.2 trillion) opportunity.

LendInvest was founded in 2008 to serve as an online marketplace for property lending and investing, enabling everyday investors to access a wider variety of asset classes, including opportunities to gain exposure to the U.K. property market. The company launched its homeowner mortgage product in beta last month and plans to launch the product to a wider audience this year.

“There are a significant number of people in the U.K. with complex income streams – from barristers to actors to NHS contract workers – who find it harder to get a mortgage because of multiple income sources or less regular pay cheques,” explained LendInvest CEO Rod Lockhart. “Our offering is tailored to their needs, providing access to the finance they require to buy the home of their dreams, and without all the stress and hassle.”

The new homeowner mortgage product targets borrowers with multiple sources of income, those who are self-employed, and those who are small-business owners. The company’s technology simplifies complex mortgage cases to improve and streamline the process of closing on a home loan.

“The complexity of this part of the U.K. 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,” added Lockhart.

With more than $4.4 billion (£3.6 billion) in funds under management, LendInvest is headquartered in London. The company’s funders and investors include pension funds, insurers, and global institutions including HSBC, J.P. Morgan, Citigroup, and National Australia Bank. LendInvest went public in 2021 and is listed on the London Stock Exchange under the ticker LSE. The company has a market capitalization of $141 million (£115 million).

Photo by RODNAE Productions

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