LendInvest has welcomed Wells Fargo as a new funding partner for the business in a £200m financing syndicate with National Australia Bank (NAB). The combined investment will support the continued growth of its buy-to-let proposition.
Wells Fargo joins a growing list of global financial institutions which are supporting LendInvest’s mortgage products, including Lloyds, JP Morgan, HSBC, Barclays, Citi and NAB.
Having launched its first BTL product five years ago, LendInvest was the first fintech to provide an entirely online experience for BTL customers and the first to securitise its own mortgage assets 18 months later.
This announcement follows the online mortgage platform’s entry into the residential mortgage market in March this year, with the launch of a range of products aimed at homeowners with more complex income sources.
LendInvest chief executive Rod Lockhart comments: “We are delighted to partner with Wells Fargo as we continue to grow and diversify our funding sources and further expand our buy-to-let business. This most recent partnership demonstrates the ongoing appetite from global financial institutions to invest in the buy-to-let sector, and we look forward to working closely with Wells Fargo.
“With our disruptive technology and full suite of property finance products, we are poised to capture an increasing share of the UK mortgage market and support the ongoing modernisation of UK property to support a cleaner, greener future.”
