The online lender has reviewed its lending criteria following the vote and has tightened its rules for deals worth more than £3m, where LTV is now capped at 65%.
However, LendInvest has not changed published interest rates, and criteria for deals worth less than £3m with an LTV of 75% or less and will continue to lend on open market valuations.
The lender also expects to honour its existing pipeline of deals, including second charge cases, and no cases have been cancelled or dropped as a result of the Brexit vote.
Ian Thomas, Co-Founder and Director of LendInvest, said in times of uncertainty communication was crucial.
“Our decision to tighten lending criteria for higher-value cases and pause new second charge loans reflects industry caution after the market shock of last week.
“Until more data becomes available about prime sales in the new market environment, redefining our lending criteria is the most responsible and prudent course of action.”
Ian added that despite the changes LendInvest would carry on lending and expected to be busy in the months to come.
“This is the sort of major event that we have built LendInvest to be able to withstand.
“We are very well capitalised and have a well-diversified funding base from which to continue to lend and service loans.”
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