Christian Faes

Pepper to service LendInvest loans

LendInvest has agreed a groundbreaking new partnership with loan servicer Pepper UK.

Under the terms of what LendInvest claims is the industry’s first partnership between a UK online property finance marketplace and an outsourced loan servicing business, Pepper UK will take responsibility for servicing all new loans originated by its new partner.

The deal will support LendInvest’s long-term strategy of creating an expanded range of tailored loan products, and follows the launch of new auction finance and development exit loans last year.

Christian Faes, co-founder and CEO of LendInvest (pictured above), said: “Collaborating with a hugely experienced loan servicing business like Pepper marks an important stage of development for the LendInvest business.

“Investors too will be comforted to know that our loans are serviced by a highly experienced and regulated servicer, making it easier for institutions in particular to invest in whole portfolios of loans.”

LendInvest will service existing loans until autumn 2017, at which point they will be migrated to Pepper for continuity of service.

All loans that require special servicing – such as arrears or expiries – will continue to be handled by LendInvest.

The new partnership will enable interest to be calculated daily, rather than monthly, and give borrowers access to an experienced team of servicers throughout the term of their loans.

Richard Klemmer, CEO of Pepper UK, added: “We have worked very closely with the LendInvest team as it has expanded over the past 12 months and are confident that with Pepper on board, the service and experience received today by LendInvest clients will only be enhanced by our long-term partnership.”

Pepper UK forms part of the Australia-based Pepper Group, which currently manages over £32bn of assets across its servicing and lending businesses on behalf of 600,000 customers worldwide.

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