Online lending platform LendInvest announced on Thursday it lent £500 million to help professional property investors, developers and landlords buy, build or renovate c.1800 homes in 2017. The online lender revealed that this marks a 33% increase on 2016’s £375 million lending record. LendInvest has now lent a total of over £1.2 billion to property investors and developers. Christian Faes, Co-founder and CEO at LendInvest, stated:
“Surpassing the £500 million milestone for annual lending was a great way to close off a fantastic year for the business. Despite an unexpected snap General Election in June and the continued weight of Brexit negotiations on the general economy, we are just as confident as our customers in the resilience of the professional property investment market. Demand for high quality lending products has not wavered. We expect to see this appetite increase again in 2018, as we further consolidate our dominant share of the short-term lending market and rapidly roll out our buy-to-let loan offering.“
LendInvest also explained that over a year it added five new products to its loan range and now offers a total of eight loan types, each designed specifically for different borrower requirements. The new additions included Refurbishment Finance, Pre-Construction Finance, and professional Buy-To-Let loans. The company also made senior hires into its sales team, including the appointment of Ian Boden as Sales Director who joined after several years running Aldermore’s commercial lending business.
Lendinvest added that in December, it reported a record-breaking year of capital raising. Between January and December 2017, the lender’s invested capital base grew by 104% to £765 million ($1.03 billion).