UK-based LendInvest, an asset management platform that’s focused on property finance, has reportedly committed to £150 million partnership with Barclays and HSBC in order to get funding to property developers.
The agreement will see the banks provide financial assistance to specialty short-term mortgages via LendInvest’s digital-first platform, which aims to assist borrowers with accessing property finance within a few business days.
Barclays has joined LendInvest’s list of financial partners, which currently includes HSBC, Citibank, JP Morgan and NAB.
Sean White, Managing Director, securitized products solutions, Barclays, stated:
“LendInvest is one of the leading fintech property lenders in the UK and their knowledge, expertise in the property lending market, and technology-enabled offering makes this a terrific partnership.”
This deal has been unveiled only a few weeks after LendInvest listed on the London Stock Exchange (LSE).
As covered recently, property finance platform LendInvest has announced several changes to its Buy-to-Let offerings, including rate reductions across standard properties and HMOs.
According to a note from LendInvest, the company has repriced its standard Buy-to-Let (BTL) products, with its two-year 65% LTV product now available at 2.85%, and its five-year 65% LTV product at 3.04%.
The lender’s five-year 75% LTV product has been reduced to 3.20% for standard properties.
For small HMO’s, the two-year product is now available at 3.04%, and the five-year product at 3.34%. LendInvest has also introduced a 75% two-year LTV product at 3.69%, and five year at 3.95% for large HMOs and MUFBs.
As reported, LendInvest has received the highest possible rating from a European rating agency for the seventh consecutive year, according to a note from the company. For the 6th year in a row, ARC Ratings affirmed its SQ1 Servicer Quality Rating for LendInvest following a review of the company. The agency assessed and rated the processes used by LendInvest to underwrite and service property loans.
ARC Ratings is a regulated European credit rating agency registered with the European Securities and Markets Authority (ESMA).