October 21 2024
LendInvest Secures £300
Million Financing Syndicate with
BNP Paribas, Barclays, and
HSBC
Renewed facility to
support LendInvest's growing Mortgages division, including bridging
loans and refurbishment products
LONDON: LendInvest, (AIM: LINV) the UK's
leading platform for property finance, has announced the renewal of
its £300 million revolving warehouse financing agreement with
BNP Paribas, Barclays Bank PLC ("Barclays"), and
HSBC.
The facility has been extended for a further three years on improved
terms, reflecting the continued confidence of major global
financial institutions in LendInvest's business model and
cutting-edge technology platform.
The £300m facility, shared equally between BNP
Paribas, Barclays, and HSBC, will support LendInvest's Mortgages division, with a strategic
focus on its shorter term bridge
financing solutions - such as Bridge-to-Let and Refurbishment and Retrofit
products.
These products offer crucial financing solutions for
property investors and developers, enabling the acquisition and
enhancement of properties - like upgrading properties to meet
Minimum Energy Efficiency
Standards (MEES), a regulatory requirement aimed at
improving the energy performance of homes across the UK.
Rod Lockhart, CEO of LendInvest, commented: "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."
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 momentum
in the capital markets, following the
£500 million 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, said: "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."
Ends.
About
LendInvest: LendInvest is the UK's leading platform for
property finance. LendInvest offers short-term, development,
bridging and buy-to-let mortgages to intermediaries, landlords and
developers. Its proprietary technology and user experience are
designed to make it simpler for both borrowers and investors to
access property finance. LendInvest has lent over £3bn of short
term, development and buy to let mortgages.
Its funders and investors include global institutions
such as HSBC, Citigroup and NAB, and, in 2019, it was the first
Fintech to securitise a portfolio of BTL mortgages. The company has
reported annual profitable growth since 2015 and was named Digital
Innovation Award Winner at the Sunday Times Tech Track 100 Awards,
and both Specialist Lender and Buy-to-Let Lender of the Year for
2019 at the last NACFB awards.
About Barclays
Corporate and Investment Bank: Barclays Corporate and
Investment Bank is comprised of the Investment
Banking,International Corporate Banking, Global Markets and
Research businesses. It provides money managers, financial
institutions, governments, supranational organisations and
corporate clients with services and advice for their funding,
financing, strategic and risk management needs. For further
information about Barclays Corporate and Investment Bank, please
visit our website www.cib.barclays.
Enquiries:
LendInvest via
Teneo
Rod Lockhart, Chief Executive Officer
Hugo Davies, Chief Capital Officer & MD of
LendInvest Mortgages
Chris Semple, Corporate
Communications
investorrelations@lendinvest.com
+44 (0)20 7353 4200
Panmure Liberum
(NOMAD and Broker)
Atholl Tweedie
David Watkins
+44 (0)20 7886 2500
Teneo (Financial
PR)
Ed Cropley
Olivia Lucas
Oscar Burnett
+44 (0)20 7353 4200