LendInvest, a UK-based non-bank mortgage lender, has secured £200m investment from the National Australia Bank (NAB) to help expand its presence in the UK buy-to-let market.
The company, which calls itself a marketplace for property finance, has raised more than £1.8bn of debt and equity from investors.
According to the mortgage lender, its platform enables all types of investors, from individuals to global institutions, to make investments in property-backed loans, supporting homebuilders in the UK while getting attractive returns.
Since its launch in 2008, the company is said to have lent more than £2bn, while creating a diverse capital base made up of individuals, corporates and some of the major financial institutions in the world.
LendInvest already supported by HSBC, Citi and other global financial institutions
National Australian Bank joins other global financial institutions who have invested in LendInvest’s secured property loans, with a list including banks such as HSBC, Citigroup and Nomura.
National Australian Bank associate director James Versmissen said: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans. This new warehouse facility underlines NAB’s commitment and capability to support lenders that shape the mortgage market of tomorrow.”
LendInvest introduced its first buy-to-let mortgage product in late 2017, after agreeing to a long-term financing facility with Citigroup.
The mortgage lender has claimed to have lent more than £370m in buy-to-let loans while gaining market share in the bank-dominated market.
In June 2019, the company securitised its own portfolio of assets worth £259m.
The fintech company offers a wholly online experience for buy-to-let customers to simplify the mortgage process for brokers and borrowers. The online platform is said to enable instant decisions, a superior experience and quicker turnaround times from application to completion.
LendInvest co-founder and CEO Christian Faes said: “We have dominated in the short term mortgage market for years, and we’re now bringing our technology and growing distribution footprint, to take market share in the longer-term mortgage market.
“Securing an additional £200 million of funding for our business from NAB is a great example of how the world’s leading financial institutions are partnering with the world’s leading Fintech businesses — and we’re proud to be announcing this partnership today between NAB and LendInvest.”
