Property lender LendInvest celebrates £500m year

Property lender LendInvest has revealed a sharp increase in lending over the last 12 months.

Last year saw the firm issue out £500m, a rise of 33% against the £375m recorded in 2016.

The London-based firm said the nine-figure sum helped property investors, developers and landlords buy, build or renovate around 1,800 homes.

LendInvest expanded its range in 2017 with five new loan products, including refurbishment finance and pre-construction finance.

Since it was founded, the company has lent more than £1.2bn.

LendInvest’s chief exec and co-founder, Christian Faes, said: “Surpassing the £500m milestone for annual lending was a great way to close off a fantastic year for the business.

“Despite an unexpected snap General Election in June and the continued weight of Brexit negotiations on the general economy, we are just as confident as our customers in the resilience of the professional property investment market.”

He continued: “Demand for high quality lending products has not wavered. We expect to see this appetite increase again in 2018, as we further consolidate our dominant share of the short-term lending market and rapidly roll out our buy-to-let loan offering.”