LendInvest Funds £2.5 Million Development in South London

20 January, London– LendInvest (LSE: LINV), one of the UK’s leading asset managers for property finance, has announced funding for a new build development in Morden, southwest London. 

The £2.5 million facility will be used to construct 8 new flats comprising of two 1-bedroom, three 2-bedroom and three 3-bedroom units, along with a private amenity space and 22 cycle spaces.

The developer, an experienced SME, purchased the land in 2022 and part of the day one loan will be used to payback the existing bridging loan. 

LendInvest was able to complete the funding and was structured at 70%LTGDV over an 18-month term. 

Steve Larkin, Managing Director for Development at LendInvest, said: “For over 10 years now, the property development team at LendInvest has always been committed to supporting SME developers, and this funding is a further testament to that. 

With the UK government far behind its target of 1.5 million new homes by the end of the current Parliamentary session, SME developers hold the key to help get closer to that goal. 

We are pleased to facilitate this new development in an attractive area of southwest London, and with a new funding partnership with AB CarVal and HSBC, we stand ready to support the build of new homes across England, Wales and Scotland”