HSBC UK hands over £200m in funding for home loan mortgages

LendInvest has secured funding of up to £200m from HSBC UK to bring more institutional capital to its platform.

This new funding will enable LendInvest to enter the regulated home loan market for the first time.

Launching in 2019, LendInvest’s first home loan product will be available to homeowners that require short-term bridging finance for terms up to one year.

Christian Faes, co-founder and CEO of LendInvest, said: “LendInvest continues to attract investment onto our platform from some of the world’s largest investors.

“This new funding from HSBC is a further important step forward in the evolution of our business. We have shown to great effect how our technology-driven approach to lending can succeed in the specialist loans market.

“Our sights are now firmly set on continuing to build out our platform and on ultimately disrupting the £200bn mainstream UK mortgage market.”

LendInvest has lent over £2bn to borrowers to date, having quickly taken market share in the short-term finance market and rapidly built scale in the buy-to-let market.

In addition to HSBC UK, LendInvest’s bank funding partners include global banks Citigroup and Nomura, European banks and a number of UK-listed challenger banks.

David Langford, relationship director in HSBC’s non-nank financial institutions team in London, added: “We are delighted to partner with LendInvest and the platform’s experienced team on this funding.

“The deal demonstrates our commitment to providing access to funding in an evolving UK residential property market in order to help support housing supply.

“We look forward to the launch of this exciting mortgage product and seeing how it will benefit new and existing LendInvest customers.”