Mortgages  

LendInvest launches dedicated broker website

LendInvest launches dedicated broker website

LendInvest has launched a website aimed specifically at mortgage intermediaries, with tools focused on helping brokers process clients’ applications.

The online lender for short-term property finance has designed the site for easier navigation by brokers, with information delivered in a clear and concise format.

Product details include:

Interest rates

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Maximum and minimum loan sizes

Maximum loan-to-value

Maximum loan-to-gross development value and loan-to-cost ratio

Maximum loan terms

Arrangement fee

Early redemption fee

Exit fees

Accepted locations

The site also provides an eligibility checklist, detailing exactly on what and to whom LendInvest will and will not lend.

Full contact details for the firms’ business development managers are also included. At the end of last year, the firm appointed three new BDMs to drive its push into the intermediary market.

Head of distribution Matthew Tooth said they are focused on building online tools which improve the application process for all parties.

“Our website makes life easier for mortgage intermediaries, giving them everything they need in the format they want it, in order to do business with us.”

Further online tools will be added to the intermediary site in the coming months, he promised.

Ishaan Malhi, co-founder of online mortgage adviser Trussle, commented: “LendInvest have clearly identified and reacted to a common pain-point for intermediaries, being that a lender’s criteria is often fragmented and difficult to navigate through.

“So it’s welcome news and another demonstration of tech being used within the industry to improve user experience, in this case for intermediaries.”

LendInvest was spun out of Montello Bridging Finance in the summer of 2013 and two years later it became the first marketplace platform to be rated by a regulated European credit rating agency.

In the last two years, it has originated over £660m of loans to landlords and developers, for terms lasting one month to three years. All loans are secured by a registered first charge against property in the UK.

Back in March, it received £17m in funding from venture capital firm Atomico, much of which will be spent on pushing into the mainstream buy-to-let market.

peter.walker@ft.com