Lendco has secured an additional £250m funding line with Santander Corporate & Investment Banking (Santander CIB).
The facility will support the company’s growth plans, and in particular its ability to scale its buy-to-let (BTL) proposition.
With a loan book approaching £1.5bn, Lendco reported strong application volumes in Q4 that have exceeded £200m.
Adrian Scragg, director of treasury, capital markets and ESG at Lendco, said: “This is another important step on our journey to further scale and optimise our funding platform as we position ourselves for a strong 2024.
“This caps a fantastic year for the team, where we have succeeded in raising over £1.1bn.”
He added: “We are proud to have built a number of strong, long-lasting relationships with our funding partners and we are really excited to begin our relationship with the Santander CIB team – we appreciate the belief they have shown in Lendco and look forward to working with them for a long time to come.”
