JP Morgan Commits £500 Million to LendInvest and Future Loan Originations

LendInvest, a top UK based Fintech in the property finance sector, has received a compelling commitment from global banking giant JP Morgan. According to LendInvest, JPM has committed £500 million for future loan originations via LendInvest. This investment follows the sale of a £125 million mortgage portfolio to JP Morgan in September 2020.

Eric Wragge, Managing Director in Securitised Products at J.P. Morgan, said there is a huge amount of innovation going on in the UK Fintech space, which is taking place both in spite of, and in response to, the broader context of the COVID-19 pandemic.

“LendInvest is an exciting business with ambitious plans for the future, and our Securitised Products team has been pleased to work with them to provide capacity for over half a billion pounds of new mortgage lending.”

JP Morgan joins a roster of institutional investors working with LendInvest, including HSBC, Citigroup, and the National Australia Bank.

The additional capital expands LendInvest’s ability to provide financing to the Buy-to-Let (BTL) market in the UK.

LendInvest notes that it was the first Fintech to provide an entirely online Buy-to-Let mortgage product for portfolio landlords in the UK, and has remained open for business throughout all three national lockdowns.

Additionally, LendInvest was the first non-bank prime BTL lender to introduce a desktop valuation product when valuers were unable to physically inspect properties.

LendInvest reports that interim results covering the period from April to September 2020 show that its loan book has grown 27% to £1,386 million and EBITDA had climbed to £6.2 million for the six month period.

Rod Lockhart, Chief Executive Officer at LendInvest, commented on the investment:

“This transaction is yet another example of the growing interest from large global institutions in UK Fintech, and importantly, another milestone for LendInvest. Working with J.P. Morgan puts us in a stronger position than ever to serve our customers in what will come to be a hugely important year for the industry. We look forward to collaborating with the team there as we continue to tailor our unique offering for landlords in an ever-changing environment.”