LendInvest has returned to profitability in the second half of its financial year, buoyed by record lending volumes, renewed funding partnerships, and a drive for operational efficiency that has begun to bear fruit.
In audited results for the year to 31 March 2025, the alternative property finance platform reported a profit before tax of £0.5m for the second half – a sharp improvement from the £1.7m loss posted in the first six months.
While the full-year result remained in the red, losses narrowed significantly to £1.2m, down from £31.1m the year before, marking a 96% year-on-year improvement.
NEW LENDING
Total new lending rose 39% to £1.23bn, underpinned by strong momentum in LendInvest’s Mortgages Division. Lending in this segment – which includes buy-to-let and residential products – increased by 62%, supported by improved broker tools, faster turnaround times, and enhancements across the lender’s short-term and buy-to-let ranges.
The company also reported a 16% increase in platform assets under management to £3.23bn, with 79% of these assets now managed on behalf of third parties. This shift, said chief executive Rod Lockhart, was central to the group’s “capital-light” strategy and has bolstered its fee-based income.
Net fee income rose by 48% to £22m, while net interest income almost doubled to £15.7m, aided by new and upsized funding lines.
FUNDING
Among the year’s funding milestones were a £500m upsizing of the JP Morgan Separate Account to £1.5bn and a similar increase in a separate mandate with a UK savings bank, now worth £1bn.
In total, LendInvest renewed or secured more than £1.5bn in financing facilities, including a £300m syndicate with BNP Paribas and HSBC, a £300m line with Lloyds, and a new £250m revolving facility with Société Générale.
The group also completed its sixth securitisation, Mortimer 2024-MIX, and included owner-occupied loans for the first time.
OPERATIONS
Operationally, LendInvest cut total operating expenses by 22% to £39.8m. Average headcount fell by 15%, and its Glasgow hub grew into a multi-functional centre of excellence across underwriting, servicing, finance and technology. These changes did not impact service delivery. Application-to-offer times fell by 20%, and the platform saw a 50% gain in productivity among its buy-to-let underwriting team.
“Our strategy is working,” said Lockhart. “We’ve made tough decisions to simplify and reset the platform, deepened our capital markets relationships, and invested in the technology that underpins how we lend and serve our customers.”
Adjusted EBITDA swung from a £19.0m loss in FY24 to a £3.2m gain in FY25. Net operating income almost doubled to £38.6m, reflecting improved operational leverage and a better income mix.
Looking ahead, Lockhart said the company was focused on maintaining momentum through disciplined execution. Key priorities for FY26 include growing lending further, expanding automation, and driving profitability without increasing fixed overheads. “We start from a stronger, leaner base,” he said, “with a platform that is now clearly set up for scalable, sustainable growth.”
