LendInvest, a Peer to Peer lending platform targeting the mortgage industry, has shared they are now originating deals for the Montello Capital range of funds. Montello is owned and operated by Christian Faes and Ian Thomas – both co-founders of LendInvest their P2P venture. LendInvest will now start working more closely with Montello as the firm will now invest directly on the LendInvest platform to buy whole loans originated on the site. Montello presently has £120 million in funds under management. This is part of a broader initiative to more effectively serve institutional investors and the company indicates discussions are taking place today with other interested institutions.
“In many respects we have been selling ourselves short. We are one of the largest short-term mortgage lenders in the UK, and yet we have only been running a very small amount of loans through LendInvest. We now intend to increase our loan origination, directly through the LendInvest platform, and this will consolidate our position as one of the main P2P platforms in the world – both in terms of volume, and in terms of the quality of the loans that we are able to originate.
As the ‘marketplace lending’ model evolves, it is important that platforms like LendInvest, are able to cater to individual investors through to larger institutions. This re-arrangement, will mean that Montello will now be one of what will be many, institutions investing through LendInvest.”
LendInvest claims that loans completed to date are over £67 million secured against over £118 million of UK real estate.