Rod Lockhart

LendInvest secures £500m investment from JP Morgan

LendInvest has obtained a new £500m investment from JP Morgan in future mortgage originations, expanding its capacity to lend in the UK BTL market.

The investment follows the sale of a £125m mortgage portfolio to JP Morgan in September 2020.

In December, LendInvest published its interim financial results covering the period from April to September 2020, which showed its loan book had grown by 27% to £1.38bn and EBITDA had climbed to £6.2m for the half year.  

Rod Lockhart, chief executive officer at LendInvest (pictured above), commented: “This transaction is yet another example of the growing interest from large global institutions in UK fintech and, importantly, another milestone for LendInvest. 

“Working with JP Morgan puts us in a stronger position than ever to serve our customers in what will come to be a hugely important year for the industry. 

“We look forward to collaborating with the team there as we continue to tailor our unique offering for landlords in an ever-changing environment.”

Eric Wragge, managing director in securitised products at JP Morgan, added: “There’s a huge amount of innovation going on in the UK fintech space, which is taking place both in spite of, and in response to, the broader context of the Covid-19 pandemic. 

“LendInvest is an exciting business with ambitious plans for the future, and our securitised products team has been pleased to work with them to provide capacity for over half-a-billion-pounds of new mortgage lending.”

JP Morgan joins a growing roster of global financial institutions and institutional investors working with LendInvest, including HSBC, Citigroup and the National Australia Bank. 

Leave a comment