LendInvest secures new short-term lending funder
The total commitment from all parties will be £300 million, with £100 million in new Funds under Management.
"We are thrilled to welcome BNP Paribas to our growing roster of global financial partners and institutional investors"
LendInvest has announced that BNP Paribas has joined its £300 million financing syndicate to support the growth of its short-term mortgages.
BNP Paribas joins a a group of firms supporting LendInvest’s mortgage products, including banks such as Lloyds, JP Morgan, HSBC, Barclays Bank, Wells Fargo, Citi and NAB.
The £300 million in funding will support LendInvest’s short-term mortgages, including financing the refurbishment and upcycle of old housing stock back into circulation across the UK.
This partnership increases LendInvest’s Funds under Management to £3.7 billion.
The announcement follows recent news that in April, Wells Fargo joined LendInvest as its latest funding partner for its buy-to-let business.
Rod Lockhart, CEO of LendInvest, commented: “We are thrilled to welcome BNP Paribas to our growing roster of global financial partners and institutional investors, not only demonstrating their trust in our capabilities and the continued momentum in our business, but significantly supporting our short-term mortgage proposition.
“Housing supply is a fundamental issue in the UK at the moment and our short-term mortgages play a key role in addressing this by helping developers refurbish and upgrade old housing stock.”
