CompaniesDec 16 2015

LendInvest hires BDM trio for intermediary market push

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LendInvest hires BDM trio for intermediary market push

LendInvest has appointed three new business development managers to drive the firm’s push into the intermediary market.

The online lender for short-term property finance has hired Alex Kyriacou from MarketInvoice, where he was a partnerships manager working closely with intermediaries, banks and accountancy firms.

Previously he managed commercial finance brokerage at Touch Financial and also held underwriting and business development roles at Mortgage Express, part of the Bradford & Bingley Group.

Alex Strien also comes in from MarketInvoice, where he was a senior funding specialist. During his three-year tenure, he helped launch several new products for borrowers, including contract finance.

Finally, CeMAP-qualified mortgage adviser Tom Madden joins from Gemini Consultants, a mortgage investment and servicing business where he spent 10 years in a range of advisory and business development roles.

The trio will be responsible for bringing LendInvest’s expanding product offering to a wider audience of brokers in the market.

In particular, they will work closely with Steve Larkin, who joined the team in early December as director of development finance, to build awareness of the company’s first development finance products.

Matthew Tooth, head of distribution at LendInvest, commented: “Adding Alex, Tom and Alex to our business development team puts us in a strong position as we move into 2016 and aim to increase our share of the short-term mortgage market.

“Our BDM team has more than tripled in size since the start of the year, reflecting growing demand for our online lending products, particularly in niche segments of the markets that traditional lenders can not or choose not to enter.”

LendInvest spun out of short-term mortgage finance specialist Montello in 2013 and has now originated close to £470m of loans for borrowers seeking finance deals lasting up to three years.

To date, the firm has focused on bridging deals, but more recently has expanded into development finance loans between £200,000 to £7.5m and up to 65 per cent gross development value.