LendInvest launches first auction finance product

The lender's auction finance product is designed for borrowers who need their deals to be fast-tracked by their lender to ensure certainty of funding within tight timeframes.

The auction finance product is available on loans ranging between £75,000 to £7.5 million up to 75% LTV.

It is available on terms from 1 to 12 months, offers 50% discount on valuation fees, and has no exit fees.

Matthew Tooth, Chief Commercial Officer at LendInvest, said: “A significant proportion of the deals that brokers bring to us are for purchases agreed at auction. In these cases, our brokers’ clients too often struggle with the same issue: their lenders can’t meet the demands to get their loans completed in time. Our auction finance borrowers receive a fast-tracked service to give them the comfort they need to know that if we say we’ll lend, we’ll do so in the short space of time available.”