LendInvest secures £500m funding partnership with Chetwood Financial
London-based property lending firm LendInvest has secured a £500 million investment from UK challenger Chetwood Financial to fuel its future mortgage originations for its buy-to-let offering (which caters to professional landlords) and its residential mortgage product (which supports customers underserved by high-street mortgage providers).
LendInvest secures £500m funding partnership with Chetwood Financial
Founded in 2008, the property finance platform’s partners include Barclays Bank, BNP Paribas, Citi, HSBC, JP Morgan, Lloyds, National Australia Bank and Wells Fargo.
“This funding follows our recent sale of a portfolio of residential buy-to-let mortgages to Chetwood for £243 million, and further strengthens our partnership with the business,” says Rod Lockhart, CEO of LendInvest.
“This investment will strengthen our buy-to-let proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation,” Lockhart adds.
LendInvest says it has lent more than £3 billion worth of short-term, development and buy-to-let mortgages since launch, and has reported profitable annual growth since 2015.
