LendInvest lends over £200m in almost 2 years

Attributed to Dan Goulding

A P2P firm has passed a major milestone after lending more than £200 million to British businesses and property entrepreneurs, in less than two years of being established in the mortgage market.

The achievement confirms the firm’s position as one of the fastest growing businesses and the fourth largest p2p company in the UK having accomplished it in just 19 months.

It took US based enterprise, Lending Club, over four and a half years and UK’s Zopa, 7 years to reach this milestone.

LendInvest, launched in May 2013 as a peer-to-peer lender in the mortgage side of things after branching out from Montello Bridging Finance.

CEO of LendInvest, Chris Faes, said: “Whilst we’re actually quite concerned about the peer-to-peer market and platforms that are simply chasing volume, we do think that our story is quite different.

“We have been actively lending in the UK specialist mortgage market since 2008 and have a solid track record, and so we are experienced lenders. We are finding that LendInvest has become very popular with investors, as it provides superior risk adjusted returns that are secured against property.”

The firm allows investors to invest online in loans that are secured against property, allowing investors to earn returns of 6.65 per cent on average per annum.

The Chief Executive Officer added: “There is a general misunderstanding that the UK mortgage market is awash with cash.

“This is definitely not the case. Mortgage lending in the UK has recovered some way, but it still remains very difficult for some borrowers to get a mortgage – and when it comes to trying to get any form of customer service from a bank lender, it really just doesn’t exist.”