This marks a 33% increase on the previous year’s £375m lending record.
Specialist property lender LendInvest lent £500m to help professional property investors, developers and landlords buy, build or renovate c.1,800 homes during 2017.
This marks a 33% increase on the previous year’s £375m lending record.
Christian Faes, co-founder and chief executive at LendInvest, said: “Surpassing the £500m milestone for annual lending was a great way to close off a fantastic year for the business.
“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.
“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.“
Over the year, LendInvest added five new products to its loan range and now offers a total of eight loan types, each designed specifically for different borrower requirements. These included refurbishment finance, pre-construction finance and professional buy-to-let loans.
The company made senior hires into its sales team, including appointing Ian Boden as sales director who joined after running Aldermore’s commercial lending business.
LendInvest also expanded its team of field-based business development managers, ramping up its lending capacity outside London and the Southeast.
In December, LendInvest reported a record-breaking year of capital raising. Between January and December 2017, the company’s invested capital base grew by 104% to £765m.
