UK-based digital bank Chetwood is one of the financial institutions that supports LendInvest’s mortgage products, alongside Barclays Bank, HSBC and BNP Paribas
UK-headquartered LendInvest has announced a £500m investment from Chetwood, to fund its buy-to-let (BTL) and residential mortgage products.
The fresh funding is designed to boost the growth of LendInvest’s BTL business, which supports landlords, as well as its recently launched residential mortgage range for customers who are underserved by high street mortgage providers.
Its proprietary technology platform aims to simplify and speed up mortgage cases for prospective homeowners, developers and landlords. Since starting out in 2008, the fintech has supported the issuance of more than £3b of mortgages.
UK-based digital bank Chetwood is one of the financial institutions that supports its mortgage products, alongside Barclays Bank, HSBC, BNP Paribas, Citi, JP Morgan, Lloyds, National Australia Bank and Wells Fargo.
Rod Lockhart, chief executive officer at LendInvest, commented: “We are delighted to receive this funding from Chetwood to support the scaling of our BTL and residential mortgage products.
“This funding follows our recent sale of a portfolio of residential BTL mortgages to Chetwood for £243 million, and further strengthens our partnership with the business.”
He continued: “The commitment from Chetwood underscores the growing confidence and trust that numerous financial partners have placed in LendInvest.”