LendInvest completes record bridging month

LendInvest completes record bridging month

LendInvest is celebrating its best ever month for bridging loan completions.

The peer-to-peer (P2P) lender completed over £50m of bridging loans in March, the largest monthly amount since it launched in 2013.

Christian Faes, co-founder and CEO of LendInvest, said: “The incredible performance in March is the result of employing the hardest working team of BDMs (business development managers), case managers and underwriters around.

“Closing such a mammoth number of deals in a single month is extraordinary, and is a fantastic achievement from the team.”  

The lender said it was expecting a rush for completions before the stamp duty increases came into effect.

Matt Tooth, Head of Distribution at LendInvest, said: “From the moment the Chancellor announced that additional stamp duty would be charged on second homes back in the Autumn Statement, we knew that March would be a big month.

“At LendInvest we never applied a strict deadline for applications earlier in the year, like many other lenders had to, and were able to stay open for deals right up to the deadline.

“That’s not to say that closing this volume of deals in one month was easy. It took a lot of toil to get those deals over the line for our borrowers in such a short time frame, and the team deserves a huge pat on the back.”

LendInvest has lent more than £560m since its launch and funded more than 1,200 new or rebuilt houses this year. 

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