LendInvest reaches £200 MILLION in mortgage lending in just 19 MONTHS

February 9, 2015 | by | 0 Comments

Peer-to-peer mortgage platform LendInvest today revealed that it has lent a staggering £200 million since it has launched in 2013.

The group has provided mortgage loans for British business and property entrepreneurs since May 2013 when it was incubated out of Montello Bridging Finance.

It drawfs the amount lent by Zopa during the same period – it took the company 8 years to reach the same milestone.

LendInvest has given out £200 million worth of mortgages in just 19 month

LendInvest has given out £200 million worth of mortgages in just 19 month

The LendInvest platform allows investors to invest online in loans that are secured against property. Investors earn returns on average of 6.65% per annum, after all fees and losses.

The milestone, which has been reached at the beginning of 2015, confirms LendInvest’s position as one of the fastest growing peer-to-peer fintech businesses, and the fourth largest P2P platform in the UK.

It took Lending Club in the US over 4 and a half years, and it took Zopa in the UK 8 years to reach the same milestone in lending (£200m). It has taken LendInvest just 19 months from launching to reach this volume.

LendIvest’s CEO Christian Faes said: ‘Whilst we’re actually quite concerned about the peer-to-peer market and platforms that are simply chasing volume, we do think that our stofy is quite different. We have been actively lending in the UK specialist mortgage market since 2008 and have a solid track record, and so we are experienced lenders. We are finding that LendInvest has become very popular with investors, as it provides superior risk adjusted returns that are secured against property.

‘There is a general misunderstanding that the UK mortgage market is awash with cash. This is definitely not the case. Mortgage lending in the UK has recovered some way, but it still remains very difficult for some borrowers to get a mortgage – and when it comes to trying to get any form of customer service from a bank lender, it really just doesn’t exist.’

Category: Business

Add your comment

Libellous and abusive comments are not allowed. Please read our House Rules

For information about privacy and cookies please read our Privacy Policy