Property finance

LendInvest reduces minimum loan size

LendInvest has reduced its minimum loan size across its bridging finance range as a result of strong regional deal flow demand.

The online lender has reduced the minimum application for loans to £75,000 compared to the previous £100,000 minimum.

This will be applied across all of LendInvest’s residential and commercial bridging loans and the decision comes after the lender launched in northern England and Scotland earlier this year.

Since launching into these regions, LendInvest has received smaller typical loan applications due to lower average property values.

“By reducing our loan size, we will automatically open up the LendInvest proposition to more prospective borrowers working and investing in UK towns and cities far beyond London and the South East,” said Matthew Tooth, chief commercial officer at LendInvest. 

“2017 will be the year that we look to accelerate our lending throughout the country.”

To date LendInvest investors have invested over £770m of loans to borrowers who have renovated over 2,600 residential properties in England.

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