LendInvest cuts minimum loan size to reflect growing regional deal flow demand
London, 29 November 2016 – LendInvest, the UK’s award-winning online mortgage lender, has reduced the minimum loan size applicable across its suite of bridging finance products.
LendInvest will now accept applications for loans of £75,000 or higher. The reduction from £100,000 has been applied to all residential and commercial bridging loans.
The decisions follows the launch of LendInvest in Northern England and Scotland in recent months, as part of the company’s strategy to become a nationwide lending business.
A smaller minimum loan size reflects the changing profile of the typical loan application that LendInvest receives as it becomes better known in regions beyond London and the Southeast where the average property value is lower.
Matthew Tooth, Chief Commercial Officer at LendInvest, said: “By reducing our loan size, we will automatically open up the LendInvest proposition to more prospective borrowers working and investing in UK towns and cities far beyond London and the Southeast. 2017 will be the year that we look to accelerate our lending throughout the country.”
In November LendInvest won the Best Short-Term Lender award at the annual National Association of Commercial Finance Brokers (NACFB) awards.
About LendInvest
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development 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.