Specialist property lender LendInvest surpassed last year’s lending record, having lent £500 million in 2017 to professional property investors, developers and landlords.
LendInvest enabled investors to buy, build or renovate approximately 1800 homes last year. This placed 2017’s activity up 33 per cent on the previous year’s lending record of £375 million. The growth was bolstered by the expansion of LendInvest’s product range. The lender added five new products to its loan range and now offers eight different loan types. These are each designed specifically for different borrower requirements. These range from refurbishment finance to pre-construction finance and professional buy to let loans.
Co-founder and chief executive at LendInvest Christian Faes commented on the firm’s successes throughout 2017. He said: ‘Surpassing the £500 million milestone for annual lending was a great way to close off a fantastic year for the business. 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.’
Mr Faes also expressed optimism regarding the investment property market, given that it remained robust throughout a turbulent 2017. He said: 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.’
During 2017, LendInvest company made senior hires into its sales team. These included appointing Ian Boden as sales director. Mr Boden joined after running Aldermore’s commercial lending business. The company also decided to expand its team of field-based business development managers. This was in order to improve its lending capacity outside London and the Southeast.
Furthermore, in December LendInvest saw a record-breaking year of capital raising. Between January and December 2017, the company’s invested capital base expanded by 104 per cent. This brought their total to £765 million.