Mortgage marketplace LendInvest will enter the regulated home loan market for the first time after securing up to £200 million in funding from HSBC UK, reports Jane Connolly.
LendInvest’s first home loan product will launch this year, offering short-term bridging finance to homeowners for terms of up to 12 months.
The company uses a unique marketplace model and proprietary technology, supported by institutional funding, to offer attractive opportunities for both borrowers and investors.
“This new funding from HSBC is a further important step forward in the evolution of our business,” says LendInvest CEO and co-founder, Christian Faes. “We have shown to great effect how our technology-driven approach to lending can succeed in the specialist loans market. Our sights are now firmly set on continuing to build out our platform and on ultimately disrupting the £200 billion mainstream UK mortgage market.”
LendInvest has quickly taken a share of the short-term finance market and built scale in the buy-to-let sector. The company has lent over £2 billion to date.
Corporate investors and sophisticated or high net worth individuals can invest in the mortgages it writes via its Co-Investment Platform, discretionary fund and £500 million LSE-listed bond programme.
via FinTech Futures http://bit.ly/2D0ThAo