LendInvest has secured a brand new funding line from JP Morgan value £500m.
This brings the whole worth of JP Morgan’s funding within the specialist property lender to £1.5bn. LendInvest now has greater than £4.55bn in funds beneath administration.
The most recent funding line will probably be used to assist the expansion of LendInvest’s mortgages proposition.
“We’re delighted to increase our funding partnership with JP Morgan,” stated Rod Lockhart, chief government at LendInvest.
Learn extra: LendInvest lowers full-year revenue steering resulting from accounting situation
“This milestone transaction is a significant vote of confidence in LendInvest and its market-leading origination functionality and expertise, and it demonstrates our continued potential to scale our strategic partnerships.
“This extension will considerably strengthen our already aggressive buy-to-let proposition, guaranteeing we stay on the forefront of the business by means of our modern strategy and distinctive customer support.”
Learn extra: LendInvest founder’s agency inks funding line with Triple Level
Earlier this yr, LendInvest introduced that it had secured a £42.5m funding facility with an unnamed world different funding supervisor. The three-year strategic funding facility was earmarked to refinance an present short-term, buy-to-let and residential mortgages funding facility.
Nonetheless, in response to the agency’s 2024 annual report, for the interval ending 31 March 2024 LendInvest fell right into a £27.3m loss, down from a £14.3m revenue the earlier yr. The agency blamed final yr’s efficiency on a difficult yr for the property market.
Learn extra: LendInvest chief receives no bonus or pay rise after lender falls into purple