LendInvest, has welcomed BNP Paribas into its £300m financing syndicate, joining forces with HSBC and Barclays Bank PLC to support the growth of its short-term mortgages.
BNP Paribas is the latest global financial institution to back LendInvest’s mortgage products, following other notable banks such as Lloyds, JP Morgan, HSBC, Barclays Bank PLC, Wells Fargo, Citi, and NAB.
The £300m funding will assist LendInvest’s short-term mortgages, particularly financing the refurbishment and upcycling of old housing stock across the UK, contributing to addressing the housing supply issue.
This partnership bolsters LendInvest’s Funds under Management to a total of £3.7bn, further establishing the platform as the preferred choice for global financial institutions seeking access to the UK mortgage market.
The announcement follows the recent news that Wells Fargo joined LendInvest in April as the latest funding partner for its buy-to-let business.
Rod Lockhart (pictured), chief executive officer of LendInvest, expressed his enthusiasm for the new partnership: “We are thrilled to welcome BNP Paribas to our growing roster of global financial partners and institutional investors. Their support not only demonstrates their trust in our capabilities and the continued momentum in our business but significantly bolsters our short-term mortgage proposition.”
He further emphasised the role of LendInvest in addressing the UK’s housing supply issue: “Our short-term mortgages play a key role in addressing this by helping developers refurbish and upgrade old housing stock.”
