Lendinvest extends funding agreement with JPMorgan

10th Sep 2024 12:35

(Sharecast News) - Mortgage platform Lendinvest announced an extension of its funding agreement with JPMorgan on Tuesday, increasing the separate account by an additional £500m, bringing the total to £1.5bn.

The AIM-traded firm said the funding would be directed towards expanding Lendinvest's mortgage offerings.

With the agreement, Lendinvest said it now managed over £4.55bn in funds, as investors continued to seek secured, asset-backed investment opportunities in property finance.

"We are delighted to extend our funding partnership with JPMorgan," said chief executive officer Rod Lockhart.

"This milestone transaction is a major vote of confidence in LendInvest and its market-leading origination capability and technology, and it demonstrates our continued ability to scale our strategic partnerships.

"This extension will significantly strengthen our already competitive buy-to-let proposition, ensuring we remain at the forefront of the industry through our innovative approach and exceptional customer service."

At 1038 BST, shares in Lendinvest were up 2.91% at 28.3p.

Reporting by Josh White for Sharecast.com.