LendInvest has announced a £500m investment with Chetwood Financial to fund part of its future mortgage originations of buy-to-let (BTL) and residential mortgage products.
The mortgage platform provider said that the funding will allow for further growth of its BTL business, which supports professional landlords. The funding will also support the growth of its new residential mortgage range, which has been developed to support customers who are
underserved by high street mortgage providers.
LendInvest’s proprietary technology platform is designed to make complex mortgage cases simpler and faster, improving the experience for prospective homeowners, property developers and professionals.
Chetwood, who is joining the partnership, joins the growing roster of global financial institutions choosing to support LendInvest’s mortgage products, which includes Barclays Bank, BNP Paribas, Citi, HSBC, JP Morgan, Lloyds, National Australia Bank and Wells Fargo.
LendInvest’s chief executive officer, Rod Lockhart, said: “We are delighted to receive this funding from Chetwood to support the scaling of our BTL and residential mortgage products.
This funding follows our recent sale of a portfolio of residential buy-to-let mortgages to Chetwood for £243m, and further strengthens our partnership with the business.
“The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest. This investment will strengthen our BTL proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation.”
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