PropTech company LendInvest has secured a partnership with banking giants HSBC and Barclays that will funnel £150m into the UK property space.
Under the terms of the deal, HSBC and Barclays will help fund the creation of short-term mortgages through LendInvest’s digital platform. This will allow borrowers to secure access to property finance in a matter of days.
The partnership builds on an already-existing alliance between HSBC and LendInvest, however, this is LendInvest’s first collaboration with Barclays, who join other banks like Citibank, National Australia Bank and JP Morgan as partners of the property finance business.
Founded in 2008, LendInvest provides individuals and institutions with numerous investment opportunities for the UK mortgage market. On the platform, individual investors are able to participate in a co-investment platform or a secured bond.
Institutions are also able to invest through the platform through the secured bonds, co-investment schemes or an opportunity fund. In addition, borrowers can use LendInvest to seek out loans for bridging finance, product transition or development.
LendInvest was recently listed on the London Stock Exchange back in July of this year. At the close of trading yesterday, the company was trading at 220p per share.
Barclays managing director of securitised products solutions Sean White said, “LendInvest is one of the leading fintech property lenders in the UK and their knowledge, expertise in the property lending market, and technology-enabled offering makes this a terrific partnership.”