LendInvest seals £300m Lloyds funding ahead of resi rollout 

By: ameer@trustedteam.com

LendInvest has announced an increase to its warehouse funding line from Lloyds Bank to £300m ahead of its entry into the UK home loans market.   

The property platform says its residential mortgage product, which beta launched in December with a group of mortgage brokers, is due to launch more widely later this year. 

Its home loans are aimed at borrowers with multiple sources of income, the self-employed and small-business owners. 

The firm, founded in 2008, has previously focused on short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. It has more than £3.6bn of funds under management. 

LendInvest chief executive Rod Lockhart says: “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 BTL mortgages in 2017.” 

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