Property finance platform, LendInvest, has renewed its £300m revolving warehouse financing agreement with BNP Paribas, Barclays Bank and HSBC.
The funding facility has been extended for an additional three years on improved terms which LendInvest said reflected the confidence major financial institutions had in its business model and technology.
The funding will support LendInvest’s mortgages division, with a focus on shorter-term bridge financing such as bridge to let, refurbishment and retrofit products.
LendInvest said these products would offer property investors and developers “crucial financing solutions” and help them meet minimum energy efficiency standards.
Rod Lockhart (pictured), CEO of LendInvest, said: “We are pleased to announce the renewal of our funding agreement with BNP Paribas, Barclays, and HSBC.
“This three-year extension highlights the confidence that investors have in LendInvest’s business strategy and the capability of our mortgages division to drive sustained growth.”
Building a better PRS for all
With already complex regulation on landlords today and more changes on the horizon, Heather Cara,
Sponsored by BM Solutions
He added: “This renewed facility reinforces our commitment to supporting the UK housing market by offering propositions that enable stock upgrades through retrofit financing, while also expanding access to flexible mortgage products like our bridge-to-let range.”
The agreement builds on LendInvest’s recent £500m funding agreement with JP Morgan, announced last month.
David Langford, relationship director at HSBC, said: “HSBC is delighted to support LendInvest in expanding its funding capabilities. This financing strengthens our commitment to helping bring innovative solutions to the UK property market, enabling more investors and developers to access crucial resources at a time when agility and growth are key.”
Kevin Vanistendael, director of securitised product solutions at Barclays, added: “Barclays is dedicated to offering strategic financing solutions that empower businesses to thrive.
“Our involvement in this extension underscores our continued support for innovative mortgage providers like LendInvest, as they bring new products to the UK mortgage market that help both investors and borrowers alike.”
Ghanem Al-Araj, managing director, securitised products group at BNP Paribas, said: “BNP Paribas is pleased to be able to continue our relationship with LendInvest, providing essential funding that supports sustainable growth in the UK mortgage market.”
