Peer-to-peer mortgage lender LendInvest has confirmed that it has now completed over £100m of investment in mortgages through its platform.
LendInvest allows investors from individuals through to institutions, to invest in short-term buy-to-let bridging loans.
LendInvest was launched in May last year, and with the release of these figures, claims it’s now the fourth largest P2P lender in the UK (behind Zopa, Ratesetter and Funding Circle).
LendInvest has seen a huge inflow of investment over the past six months, as investors are seeking the superior returns offered by the platform (averaging 8.15%pa, all secured by a first registered mortgage against property in the UK).
LendInvest is seeing up to £2m of new money placed on the platform each week, and this money is invested in short-term mortgage loans that have an average duration of around six months.
LendInvest is associated with leading real estate fund manager Montello Funds Management. Montello invests in a large portion of the loans originated by LendInvest, along with more than 2,500 other active registered LendInvest investors.
LendInvest has recently hired an experienced data scientist who will head up a team that will enhance its credit underwriting models, and transparency on the platform. This will include making detailed track-record data publicly available in the near future.
LendInvest co-founder Christian Faes said: “The ‘Big 3′ of the UK peer-to-peer lending market, is clearly now the ‘Big 4′, which must firmly include LendInvest. We are one of the fastest growing peer-to-peer platforms in the world, leveraging off a six-year track record of actively lending in the short-term buy-to-let mortgage market in the UK.
“We are in a unique position with our funds management business, Montello. This provides us with strong institutional investor relationships, and a relatively substantial balance sheet from those funds, that can be deployed on the LendInvest platform.”
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