The list of global financial institutions supporting its mortgage products continues to grow
Non-bank mortgage lender LendInvest has announced that Wells Fargo has joined its £200 million financing syndicate with National Australia Bank (NAB) to support the expansion of its buy-to-let proposition.
The lender said Wells Fargo was the latest in the growing roster of global financial institutions, including banks such as Lloyds, JP Morgan, HSBC, Barclays, Citi, and NAB, that choose to support its mortgage products.
Having launched its first buy-to-let mortgage product five years ago, platform assets under management (AuM) for buy-to-let reached £1.8 billion by end of September 2022, representing 75% of total platform AuM.
LendInvest claims to be the first fintech to provide an entirely online experience for buy-to-Let customers and the first UK fintech to securitise its own mortgage assets just 18 months later.
The lender entered the residential mortgage market last month, with the launch of a range of products aimed at the increasing number of homeowners with more complex sources of income, such as contract workers or the self-employed, who are currently underserved by many lenders.
This week we launched our Residential Mortgage range, for the first time providing homeowners around the UK with products tailored to their circumstances. 🏠
— LendInvest (@LendInvest) March 24, 2023
For more information, visit our site: https://t.co/LhTWaSipjT pic.twitter.com/iXXhbrgx0m
“We are delighted to partner with Wells Fargo, as we continue to grow and diversify our funding sources and further expand our buy-to-let business,” commented Rod Lockhart (pictured), chief executive at LendInvest. “This most recent partnership demonstrates the ongoing appetite from global financial institutions to invest in the buy-to-let sector, and we look forward to working closely with Wells Fargo.
“With our disruptive technology and full suite of property finance products, we are poised to capture an increasing share of the UK mortgage market and support the ongoing modernisation of UK property to support a cleaner, greener future.”
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