NAB has become the latest global financial institution to invest in LendInvest’s secured property loans, joining a list including HSBC, Citigroup and Nomura.
LendInvest launched its first BTL product in late 2017 and has now provided more than £370m to the sector.
Christian Faes, co-founder and CEO at LendInvest (pictured above), said: “We’ve now raised almost £2bn in debt and equity for LendInvest, and in many respects we’re just getting started.
“We have dominated in the short-term mortgage market for years, and we’re now bringing our technology and growing distribution footprint to take market share in the longer-term mortgage market.
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“Securing an additional £200m of funding for our business from NAB is a great example of how the world’s leading financial institutions are partnering with the world’s leading fintech businesses — and we’re proud to be announcing this partnership today between NAB and LendInvest.”
The investment was supported by HM Treasury.
Chris Philp, PPS to the chancellor of the exchequer, added: "This very substantial investment from NAB into LendInvest loans is an important example of how global institutions are motivated to back not only the UK's thriving fintech sector, but throw their weight behind the country's property sector in a long-term and meaningful way.
“It's encouraging to see LendInvest push even further in buy-to-let, taking [its] technology into markets where financial innovation is yet to make its mark.”
James Versmissen, associate director at NAB, concluded: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans.
“This new warehouse facility underlines NAB’s commitment and capability to support lenders that shape the mortgage market of tomorrow.”