RCS - Lendinvest PLC - LendInvest welcomes Wells Fargo as Funding Partner

National Australia BankAnnouncement

28/04/2023 08:15

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RNS Number : 8524X  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
(https://urldefense.com/v3/__https:/www.lendinvest.com/__;!!M-LnPY9tIpC8UAAcOw!Drjl3H71Z-WJje13xQvcade8X_cKSVnpwetdjxCWWVSJv7wQ1ztZo7ksNAlkcAgceTfwqqM4lBov$)
, 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"

 

--Ends--

 

Media Contacts:

 

Leigh Rimmer, leigh@lendinvest.com (mailto:leigh@lendinvest.com) | 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 (http://www.lendinvest.com) |  @lendinvest
(https://twitter.com/lendinvest)

 

 

 

 

 

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