LendInvest extends JP Morgan debt financing agreement to £1.5bn
LendInvest has extended its funding agreement with JP Morgan by £500 million, bringing the total value of the separate account it holds with the US bank to £1.5 billion.
LendInvest extends JP Morgan debt financing by £500 million
JP Morgan has backed the property lender since 2021, when it made its first £500 million investment in the firm after purchasing its £125 million mortgage portfolio the year prior.
LendInvest says the extension has increased its funds under management to more than £4.55 billion, stating that investors seek “strong relative value in the current macroeconomic environment” through asset-backed investments in property finance.
The firm says it will leverage the increased debt financing from JP Morgan to develop its mortgages proposition. It first entered the home loan market in 2019, powered by £200 million in funding from HSBC, and subsequently also received the backing of Barclays, BNP Paribas, Citi, Lloyds, National Australia Bank, Wells Fargo, and Chetwood Financial.
Based in London, LendInvest operates an online marketplace for property finance, through which it provides the likes of buy-to-let mortgages, development finance and bridging loans to real estate investors and developers. The firm has traded publicly on the London Stock Exchange (LSE) since 2021, and claims to have lent over £7 billion since its inception in 2008.
JP Morgan declined to comment on the extension when contacted by FinTech Futures.
