LendInvest has renewed its £300 million revolving warehouse financing agreement with BNP Paribas, Barclays Bank PLC and HSBC.
The mortgage platform says its proprietary technology platform makes complex cases simpler and faster, and improves the experience for prospective homeowners, property developers and professional landlords.
Last month it secured a £500m million funding agreement with JP Morgan.
The £300m facility, shared equally between BNP Paribas, Barclays, and HSBC, has been extended for a further three years “on improved terms”, according to the listed business.
It 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.
Scaling firms hail treasure trove of advice at FUEL Manchester 2024
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.”