LendInvest unveils £500m funding deal with Chetwood Financial
LendInvest has secured a £500m funding line from Chetwood Financial, which it said will boost the growth of its buy-to-let (BTL) and residential mortgage products.
The specialist property lender’s BTL business supports professional landlords, while its newly-launched residential mortgage range has been developed to support customers who are underserved by high street mortgage providers.
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LendInvest has an existing relationship with Chetwood Financial, having previously sold a buy-to-let mortgage portfolio to the digital bank for £243m.
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“We are delighted to receive this funding from Chetwood to support the scaling of our BTL and residential mortgage products,” said Rod Lockhart, chief executive at LendInvest.
“The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest. This investment will strengthen our BTL proposition and newly launched residential mortgage product, empowering us to provide competitive products to professional landlords and prospective homeowners across the nation.”
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The funding tie-up with Chetwood follows LendInvest’s deals with institutions including Barclays Bank, BNP Paribas, Citi, HSBC, JP Morgan, Lloyds, National Australia Bank and Wells Fargo.
