REG - Lendinvest PLC LendInvest PLC-LINV - LendInvest secures funding from Lloyds Bank

LendinvestAnnouncement

17/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230117:nRSQ9035Ma&default-theme=true

RNS Number : 9035M  Lendinvest PLC  17 January 2023

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

LEI: 213800NWMK3O4UWP9N91

 

17 January 2023

 

LendInvest plc

 

("LendInvest" or the "Company")

 

LendInvest secures funding from Lloyds Bank to launch into homeowner mortgages

 

-       Marks LendInvest's first step into £1.2 trillion homeowner
mortgage market*

-       Facility increases LendInvest's total Funds under Management to
more than £3.6 billion

 

LendInvest plc (AIM: LINV), a leading technology driven asset manager for UK
property finance, announces increased funding from Lloyds Bank now totalling
£300 million to support its entry into the UK's £1.2 trillion homeowner
mortgage market(*).

 

LendInvest's home owner mortgage product, which beta launched in December 2022
with a select group of mortgage brokers, is due to launch more widely in 2023.

 

The offering is LendInvest's first entry into the UK homeowner mortgage market
and is aimed at borrowers with multiple sources of income, the self-employed
and small-business owners. LendInvest's proprietary technology platform, which
makes even the most complex of cases simpler and faster, improves the overall
mortgage experience for homeowners.

 

LendInvest now has more than £3.6 billion (£3.4 billion as at 30 September
2022) of Funds under Management, providing investors with opportunities to
gain exposure to the UK property finance market.

 

Rod Lockhart, Chief Executive Officer at LendInvest commented: "We are
delighted to receive this increase in the warehouse funding line from Lloyds
now totalling £300 million as we take our first step into the homeowner
mortgage market.

 

"There are a significant number of people in the UK with complex income
streams - from barristers to actors to NHS contract workers - who find it
harder to get a mortgage because of multiple income sources or less regular
pay cheques. Our offering is tailored to their needs, providing access to the
finance they require to buy the home of their dreams, and without all the
stress and hassle.

 

"The complexity of this part of the UK mortgage market makes it ripe for
disruption by our purpose-built technology and is a natural evolution for us
following our launch into buy-to-let mortgages in 2017."

 

(*)defined as total mortgages outstanding in the mainstream and specialist
homeowner segments

 

 

--Ends--

 

 

Enquiries:

 

For further information, please contact:

 

LendInvest via Tulchan Communications
                       +44 (0)20 7353 4200

Rod Lockhart, Chief Executive Officer

Michael Evans, Chief Financial Officer

Alex Dee, Head of Investor Relations

Leigh Rimmer, Head of External Communications

investorrelations@lendinvest.com

 

Panmure Gordon (NOMAD and Joint Broker)
                                      +44
(0)20 7886 2500

Atholl Tweedie

 

finnCap Limited (Joint
Broker)
                            +44 (0)20 7220 0500

Jonny Franklin-Adams/George Dollemore (Corporate Finance)

Tim Redfern/Alice Lane (ECM)

 

Tulchan Communications (Financial PR)
                    +44 (0)20 7353 4200

Tom Murray

Ed Cropley

Olivia Lucas

 

 

Important Notices

The information contained within this announcement is deemed by LendInvest to
constitute inside information as stipulated under the UK Market Abuse
Regulation. By the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain. The person responsible for arranging for the release of this
announcement on behalf of LendInvest is Rod Lockhart.

The information contained in this announcement is for information purposes
only.  This announcement has been prepared in accordance with English law,
the UK Market Abuse Regulation and the AIM Rules for Companies and information
disclosed may not be the same as that which would have been prepared in
accordance with the laws of jurisdictions outside England.

Subject to the requirements of the UK Market Abuse Regulation and the AIM
Rules for Companies, the delivery of this announcement shall not create any
implication that there has been no change in the affairs of LendInvest since
the date of this announcement or that the information in this announcement is
correct as at any time subsequent to its date.

Forward-looking statements

Certain statements in this announcement are forward-looking statements. In
some cases, these forward looking statements can be identified by the use of
forward looking terminology including the terms "anticipate", "believe",
"intend", "estimate", "expect", "may", "will", "seek", "continue", "aim",
"target", "projected", "plan", "goal", "achieve" and words of similar meaning
or in each case, their negative, or other variations or comparable
terminology. These forward looking statements reflect LendInvest's current
expectations concerning future events and speak only as of the date of this
announcement.  No statement in this announcement is intended as a profit
forecast or estimate for any period.

 

Many factors may cause actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Important
factors that could cause actual results, performance or achievements of the
Company to differ materially from the expectations of the Company, include,
among other things, general business and economic conditions globally,
industry trends, competition, changes in government and changes in regulation
and policy, including in relation to the environment, health and safety and
taxation, labour relations and work stoppages, interest rates and currency
fluctuations, changes in its business strategy, political and economic
uncertainty and other factors. Such forward-looking statements should
therefore be construed in light of such factors. Neither the Company nor any
of its Directors, officers or advisers provides any representation, assurance
or guarantee that the occurrence of the events expressed or implied in any
forward-looking statements in this announcement will actually occur.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRGPUMWGUPWPUQ