LendInvest welcomes Wells Fargo as Funding Partner

Lendinvest PLC

28 April 2023

 

LendInvest welcomes Wells Fargo to £200 million financing syndicate with National Australia Bank for Buy-to-Let

●    The Wells Fargo and National Australia Bank syndication will fund LendInvest's Buy-to-Let mortgage offering

●    The total commitment from both parties will be £200 million, Funds under Management remains unchanged

London, 28 April 2023 - LendInvest, the UK's leading platform for mortgages, announces Wells Fargo joins its £200 million financing syndicate with National Australia Bank (NAB) to support the continued growth of its Buy-to-Let proposition.

Wells Fargo joins a growing roster of global financial institutions choosing to support LendInvest's mortgage products, including banks such as Lloyds, JP Morgan, HSBC, Barclays, Citi and NAB.

The success of LendInvest's Buy-to-Let product is easily measured by customer demand. Having launched its first Buy-to-Let mortgage product five years ago, Platform Assets Under Management (AuM) for Buy-to-Let reached £1.8 billion at 30 September 2022 and represents 75% of total Platform AuM. LendInvest was the first Fintech to provide an entirely online experience for Buy-to-Let customers, and was the first UK Fintech to securitise its own mortgage assets just 18 months later.

Built on a modern tech stack, its end-to-end, paperless, online platform, coupled with a commercially-focused yet credit-robust lending approach, has alleviated the pain points in the mortgage process for brokers and borrowers, providing instant decisions, a superior experience and fast turnaround times from application to completion.

With more than £3.6 billion in Funds under Management, LendInvest has firmly established itself as trusted financial partner to some of the world's largest institutions, providing investors with opportunities to gain risk-adjusted exposure to the UK mortgages.

This announcement follows LendInvest's entry into the residential mortgage market in March this year, with the launch of a range of products aimed at the increasing number of home-owners with more complex sources of income, such as contract workers or the self-employed, who are currently underserved by incumbent lenders.

Rod Lockhart, Chief Executive Officer of LendInvest, commented: "We are delighted to partner with Wells Fargo as we continue to grow and diversify our funding sources and further expand our buy-to-let business. This most recent partnership demonstrates the ongoing appetite from global financial institutions to invest in the buy-to-let sector, and we look forward to working closely with Wells Fargo.

With our disruptive technology and full suite of property finance products, we are poised to capture an increasing share of the UK mortgage market and support the ongoing modernisation of UK property to support a cleaner, greener future"

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Media Contacts:

Leigh Rimmer, [e-mail] | 020 3846 6817

About LendInvest

LendInvest is a leading platform for mortgages in the United Kingdom. Since inception we have developed proprietary technology and digital solutions that have allowed us to capture market share from incumbents and attract significant third-party capital.

We use our technology to disrupt the £1.7 trillion* property finance market which is dominated by manual paper processes and poor customer experience. Our platform, unencumbered by legacy systems, offers attractive products and pricing to borrowers and intermediaries through a seamless and customer-focused process. In addition, it also provides us with a highly scalable origination platform for future growth.

Experts in Real Estate investment, we have designed a variety of solutions and products for our investors. These range from funds and separate accounts to financial partnerships and RMBS. These products are tailored to address their specific risk return and investment criteria. Through the platform, investors from around the world gain exposure to attractive UK property finance assets without requiring them to establish direct lending operations or borrower services.

Our innovative business model is underpinned by our proprietary end-to-end technology infrastructure, which facilitates operating leverage and delivers better pricing for our customers. This drives efficiency and underpins our business' roadmap for growth.

*Source, FCA -The outstanding value of all residential mortgage loans was £1.7 trillion at the end of Q4 2022.

www.lendinvest.com |  @lendinvest

 

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