Leanne Smith

LendInvest reports record quarter for signed bridging applications

LendInvest has announced a record quarter for signed bridging applications in Q3, having seen a 65% year-on-year surge.

Signed applications are deals that have been approved by LendInvest to progress as a case.

In the first half of 2020, LendInvest recorded “significant increases” in signed applications, with Q3 exceeding all previous records.

The lender noted a 58% rise in total signed bridging applications from Q2 to Q3. 

“It’s been a tremendous quarter for new, short-term lending business at LendInvest,” said Justin Trowse, director for bridging at LendInvest — a role he took up earlier this year to drive origination and guide product development.

“Our pipeline is a record to date, and with the completion levels increasing month on month, we can only see this trend continuing into Q4 as property professionals seek to capitalise on the stamp duty land tax holiday ahead of its current withdrawal date in Spring 2021.”

The property finance platform remained open for business throughout the period of national lockdown earlier this year and continued to process existing and new loan applications during this time.

Leanne Smith, sales director at LendInvest (pictured above), added: “The team has worked tirelessly over the past six months, not only allowing us to remain open for our brokers and borrowers throughout lockdown, but also ensuring those customers received the highest level of service throughout this time.

“Call volumes and new applications are at the highest we’ve ever experienced, and bridging packaging has improved materially for us internally.

“With new systems and processes constantly being reviewed to manage and improve turnaround times, I am confident that we will be able to meet the increasing demand for property finance over the next couple of months, while maintaining the high service levels we currently are.”

Leanne Smith has been with LendInvest for over eight years and is currently responsible for managing internal sales to cope with high volumes across all products, encourage repeat business, and continue to improve service levels through technology.

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