LendInvest’s lending volumes rose 30% to £539.1m in the first half of financial year 2024/25, while the specialist lender’s losses before tax dopped sharply from £15.7m to £1.7m year-on-year.
LendInvest achieved profitability in September and, following the government’s plans to boost housebuilding, energy efficiency and professionalism in the buy-to-let (BTL) sector, it remains “cautiously optimistic” about its profitability during the rest of the year.
The company’s debt reduced 29% year-on-year to £601.7m and net fee income rose by 71% from £6.6m to £11.3m, which LendInvest said was a key indicator of its progress towards more stable and simplified earnings and was a major contributor towards returning to profitability over the period.
Road Lockhart (pictured), chief executive of LendInvest, said: “As we pass the halfway mark of FY25, our results reflect good progress on our key strategic objectives: growing lending, reducing costs, and bringing down debt. These actions underpin our shift toward a capital-light, asset management-oriented model, which allows us to drive stable, recurring earnings.”
Lockhart said ongoing interest rate volatility, triggered by both macroeconomic and geopolitical uncertainty, could present headwinds in the second half of the financial year.
