Wells Fargo is joining LendInvest’s financing syndicate with National Australia Bank (NAB) to support the specialist lender’s BTL offering — with the funds from both parties totalling £200m.
LendInvest’s mortgage products are supported by a range of other global financial institutions, including banks such as Lloyds, JP Morgan, HSBC, Barclays and Citi — with more than £3.6bn in funds under management.
Since launching its first BTL product five years ago, its Platform Assets under Management (AuM) for BTL reached £1.8bn in September last year, representing 75% of total Platform AuM.
The finance provider offers an entirely online experience for BTL customers.
Rod Lockhart, chief executive officer at LendInvest (pictured above), commented: “We are delighted to partner with Wells Fargo as we continue to grow and diversify our funding sources and further expand our BTL business.
“With our 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 [for] a cleaner, greener future.”
