LendInvest to grow buy-to-let offering with new financer

UK lender and platform LendInvest has welcomed Wells Fargo joins its £200 million financing syndicate with National Australia Bank (NAB) to support the growth of its buy-to-let proposition.

Wells Fargo joins a growing roster of global financial institutions supporting LendInvest’s mortgage products, including banks such as Lloyds, JP Morgan, HSBC, Barclays, Citi and NAB.

Having launched its first buy-to-let mortgage product five years ago, Platform Assets Under Management (AuM) for buy-to-let reached £1.8 billion at 30 September 2022 and represents 75% of total Platform AuM.

Rod Lockhart, chief executive officer of LendInvest, said: “We are delighted to partner with Wells Fargo as we continue to grow and diversify our funding sources and further expand our buy-to-let business.

“This most recent partnership demonstrates the ongoing appetite from global financial institutions to invest in the buy-to-let sector, and we look forward to working closely with Wells Fargo.

“With our disruptive 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 to support a cleaner, greener future.”

LendInvest entered into the residential mortgage market in March this year, with products aimed at home-owners with more complex sources of income, such as contract workers or the self-employed.