LendInvest Secures £300m from BNP, Barclays, HSBC

Lendinvest PLC

21 October 2024

 

October 21 2024

LendInvest Secures £300 Million Financing Syndicate with

BNP Paribas, Barclays, and HSBC

Renewed facility to support LendInvest's growing Mortgages division, including bridging loans and refurbishment products

LONDON: LendInvest, (AIM: LINV) the UK's leading platform for property finance, has announced the renewal of its £300 million revolving warehouse financing agreement with BNP Paribas, Barclays Bank PLC ("Barclays"), and HSBC.

The facility has been extended for a further three years on improved terms, reflecting the continued confidence of major global financial institutions in LendInvest's business model and cutting-edge technology platform.

The £300m facility, shared equally between BNP Paribas, Barclays, and HSBC, will support LendInvest's Mortgages division, with a strategic focus on its shorter term bridge financing solutions - such as Bridge-to-Let and Refurbishment and Retrofit products.

These products offer crucial financing solutions for property investors and developers, enabling the acquisition and enhancement of properties - like upgrading properties to meet Minimum Energy Efficiency Standards (MEES), a regulatory requirement aimed at improving the energy performance of homes across the UK.

Rod Lockhart, CEO of LendInvest, commented: "We are pleased to announce the renewal of our funding agreement with BNP Paribas, Barclays, and HSBC.

"This three-year extension highlights the confidence that investors have in LendInvest's business strategy and the capability of our mortgages division to drive sustained growth."

He added: "This renewed facility reinforces our commitment to supporting the UK housing market by offering propositions that enable stock upgrades through retrofit financing, while also expanding access to flexible mortgage products like our Bridge-to-Let range."

The agreement builds on LendInvest's recent momentum in the capital markets, following the £500 million funding agreement with JP Morgan announced last month.

David Langford, Relationship Director at HSBC, said: "HSBC is delighted to support LendInvest in expanding its funding capabilities.This financing strengthens our commitment to helping bring innovative solutions to the UK property market, enabling more investors and developers to access crucial resources at a time when agility and growth are key."

Kevin Vanistendael, Director of Securitised Product Solutions at Barclays, said: "Barclays is dedicated to offering strategic financing solutions that empower businesses to thrive. Our involvement in this extension underscores our continued support for innovative mortgage providers like LendInvest, as they bring new products to the UK Mortgage market that help both investors and borrowers alike."

Ghanem Al-Araj, Managing Director, Securitised Products Group at BNP Paribas, said: "BNP Paribas is pleased to be able to continue our relationship with LendInvest, providing essential funding that supports sustainable growth in the UK Mortgage market."

Ends.

About LendInvest: LendInvest is the UK's leading platform for property finance. LendInvest offers short-term, development, bridging and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance. LendInvest has lent over £3bn of short term, development and buy to let mortgages.

Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.

About Barclays Corporate and Investment Bank: Barclays Corporate and Investment Bank is comprised of the Investment Banking,International Corporate Banking, Global Markets and Research businesses. It provides money managers, financial institutions, governments, supranational organisations and corporate clients with services and advice for their funding, financing, strategic and risk management needs. For further information about Barclays Corporate and Investment Bank, please visit our website www.cib.barclays.

Enquiries:

LendInvest via Teneo

Rod Lockhart, Chief Executive Officer  

Hugo Davies, Chief Capital Officer & MD of LendInvest Mortgages

Chris Semple, Corporate Communications                                                                                  

[e-mail]

[phone]

Panmure Liberum (NOMAD and Broker)  

Atholl Tweedie

David Watkins

[phone]

Teneo (Financial PR)                  

Ed Cropley

Olivia Lucas

Oscar Burnett

[phone]

 

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