Property finance platform LendInvest has distributed a note sharing that its marketplace funded the purchase of an HMO (house of multiple occupancy) property in four days for an experienced landlord in West London. The property was a tenanted ten-bedroom house in West London.
LendInvest say that a tight timeframe was needed by the borrower and the team moved quickly to facilitate the loan resulting in completion just four days after offer. The loan size was £451,500 based on an LTV of 70% on a LendInvest BTL 2 year fixed rate product.
Lauren Eaton, Head of Loan Operations at LendInvest, said:
“The speed at which this case was delivered is a true testament to the perfect combination of the relationship we have with our professional partners, the deep expertise of the LendInvest team and the technology enabled processes that allow us to move quickly, while maintaining quality of funding and service. I’m delighted to be announcing this deal delivered in record time as our first completion with Birketts, a confident sign of a team that holds the same approach to fast, flexible lending as we do.“
LendInvest has lent over £3 billion of short term, development and buy to let mortgages on its digital finance platform. LendInvest investors include global institutions and claims to be the first Fintech to securitize a portfolio of BTL mortgages.