LendInvest secures funding from Lloyds to enter retail mortgage market
Summary
The asset management platform for property finance, LendInvest, has announced further backing from Lloyds Bank, to enter the UKs \xa31.2 trillion homeowner mortgage market.Investment by Lloyds Bank into LendInvest now totals \xa3300 million, after the bank signed a financial partnership for \xa3180 million to help the firm grow its buy-to-let business and securitisation programme in October last year. Rod Lockhart, CEO, LendInvest, commented: "We are delighted to receive this increase in the warehouse funding line from Lloyds now totalling \xa3300 million as we take our first step into the homeowner mortgage market. "There are a significant number of people in the UK 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. 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 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."