This figure represents a 33% increase in lending on the £375m recorded in 2016 and means the company has now lent over £1.2bn in total to property investors and developers.
The specialist property finance lender reported that it has focused on developing more tailored loan products, adding five more to its range last year, bringing the current total to eight.
The new products included refurbishment finance, pre-construction finance and professional buy-to-let loans.
The company was also able to secure a long-term financing facility with Citi to support its new BTL proposition.
- LendInvest grows lending capital base by 104%
- LendInvest launches BTL offering
- LendInvest lists £50m retail bond on LSE
In December 2017, LendInvest reported that its lending capital base had grown by 104% since the start of 2017 to £765m.
Christian Faes, co-founder and CEO at LendInvest, said: “Surpassing the £500m milestone for annual lending was a great way to close off a fantastic year for the business.
“Despite an unexpected snap general election in June and the continued weight of Brexit negotiations on the general economy, we are just as confident as our customers in the resilience of the professional property investment market.
“Demand for high-quality lending products has not wavered.
“We expect to see this appetite increase again in 2018, as we further consolidate our dominant share of the short-term lending market and rapidly roll out our buy-to-let loan offering.”
Last year, LendInvest announced senior appointments to its sales team, including former Aldermore head of commercial mortgages Ian Boden as sales director and the expansion of its BDM team.
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